Titanium Price Trend and Forecast

Titanium Regional Price Overview

Get the latest insights on price movement and trend analysis of Titanium in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Titanium Price Trend for the Second Half of 2024

Stay updated with the latest Titanium prices, historical data, and tailored regional analysis
 

The prices of titanium observed an oscillating trajectory during the second half of 2024 in the global markets. In China the average spot prices for titanium in the second half of 2024 were around 2065 USD/MT. The supply of the metal in various regions had primarily affected the prices. The demand side remained moderate throughout the said period. However, supply constraints, especially in the European region, kept the prices wavering.
 

Titanium Price Chart

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The capping of the titanium exports by Russia caused concerns in the region as the European aerospace sector remained heavily dependent on imports from Russia. The titanium supply chain in the region struggled as the manufacturers tried to diversify their suppliers. However, it was difficult to meet the stringent standards for aerospace-grade titanium, and only a few suppliers met the standards. Along with this, the supplies were further constrained by the limited recycling capacity and low domestic refining of the metal in the region.

To address the issues, the policymakers focussed on negotiating agreements with the U.S. suppliers. Meanwhile, the constraints in the supply also affected the Asian markets, which also showed fluctuations in the prices of the titanium metal. Overall, the prices of titanium reflected the uncertainties in the supply across the globe.

Analyst Insight

According to Procurement Resource, the prices of titanium are expected to show as fluctuating trajectory in the upcoming quarters influenced by the mining challenges and severe weather conditions.
 

Titanium Price Trend for the First Half of 2024

During the first half of 2024, the titanium market in China experienced notable fluctuations in prices driven by various factors. The year began with a significant increase in titanium prices due to a reduction in raw ore supply and the temporary shutdown of large factories, which led to tight spot availability and low inventory levels. This, combined with rising downstream inquiries, pushed market prices upward in January. As the first quarter progressed, the market maintained a strong stance, with continued tightness in supply and increasing demand, particularly as enterprise orders were scheduled for future months, further boosting prices. However, as the second quarter unfolded, the market dynamics began to shift.

By May, the prices started to soften as the supply of titanium ore stabilized, and the production levels remained consistent. Despite environmental inspections in regions like Yunnan affecting mining operations, the overall market sentiment turned weaker, particularly due to sluggish demand from downstream industries such as titanium dioxide manufacturing.

The cautious approach to purchasing and a more stable supply scenario led to a moderation in the previously strong price trends. As the second quarter concluded, the titanium market in Panxi remained in a weak and stable state, with prices operating steadily, influenced by ongoing negotiations for actual transaction prices. The overall market was characterized by fluctuating sentiments, with a strong start gradually transitioning into a more cautious and stabilized outlook by mid-year.

Analyst Insight

According to Procurement Resource, the price of Titanium is expected to continue its stabilized trajectory with ample support from the global downstream automotive industries and improving the stance of supply chains.
 

Titanium Price Trend for the Second Half of 2023
 
Titanium prices exhibited regional variations during the second half of the year 2023. The market was steadier and more stable in Asia, particularly China, as the prices mostly fluctuated within a very close range. However, the European markets had some supply concerns. Aircraft manufacturing companies like Boeing and Airbus were facing a crisis primarily because the conflict between Russia and Ukraine conflict disrupted the precious metal's supply chains, particularly for the European regions.

The aerospace and aviation industries faced challenges due to a shortage of titanium, with significant impacts on the Maintenance, Repair, and Overhaul (MRO) sector. Ukraine's historical role as a major titanium producer has been disrupted, and Russia's historical dependency on Ukrainian titanium has also caused concerns. Other than this, the prices were almost stagnant in the majority of the global markets.

Analyst Insight

According to Procurement Resource, Titanium prices are not expected to fluctuate much in the coming months. Supply chain hindrances might complicate the situation a little. Overall, a stable trend is anticipated.
 

Titanium Price Trend for the First Half of 2023

Titanium is a precious metal with fundamental usage in the ornaments, engineering, and aerospace industries. With its limited availability, the price point is usually high for this metal. However, its usage dictated its market trend during the said period of H1’23.

In the Chinese market, the peak period of post-lockdown recovery was going on, which pushed Titanium prices up initially at the beginning of the first quarter. But as the quarters shifted, the demands started declining, attributed to the high global inflation rates, since the export queries for various related products decreased substantially.

The European and American markets experienced depreciation for the entire period. A change in end consumer behavior with regard to buying expensive jewellery also was the reason.  A more necessity-centric purchasing approach caused the Titanium market to slide.

Analyst Insight

According to Procurement Resource, given the dull demands from end consumer markets, the Titanium prices are not likely to go up anytime soon.
 

Titanium Price Trend for the Second Half of 2022

The prices of titanium metal in the global market saw a fluctuating trend. During the initial months, the metal prices were favorable due to the high demand and supply shortage in the market. But the ripple effects of the Russia-Ukraine war showcased its effect on the market. Russia is a significant exporter of metals in the global market, thus restriction on trade with it adversely affected the market. The demand from the end-user industries was also weak, and the doom of the global recession shadowed the prices of titanium.

Titanium metal and its derivatives also declined due to the rise in the production of energy cost prices, especially in the European region. The uncertainties in the market, low demand, energy price fluctuations, reduced inquiries, sea-saw production costs, bearish sentiments observed in the North American region, and oversupply problems, all contributed majorly to keeping the prices of titanium metals towards the negative side of the growth curve.

Analyst Insight

According to Procurement Resource, the price trend for titanium metals are expected to oscillate further in the upcoming quarter considering the declining demand, the weak market of the automobile industry, and declining production costs.
 

Titanium Price Trend For the First Half of 2022

The ongoing Russia-Ukraine war has massive ramifications for the global economy. Owing to various trade restrictions, high production costs and supply chain issues the prices of metal soared globally. The western retaliatory sanction against Russian exports coupled with the absence of Ukrainian exports, the prices of titanium metal skyrocketed.

The US imports 37% of its titanium requirements from Russia. With the sanctions against the biggest supplier of titanium metal: VSMPO-Avisma, the prices of titanium metal surged uncontrollably. Japan fulfils 1/5 of the world’s titanium needs. With the Russian and Ukrainian exports out of the picture, the Japanese exports came under pressure.

The two biggest suppliers Toho and Osaka Titanium corporations were running at their maximum capacity and were still not able to keep up with the demand causing the price trend of titanium to inflate further. The prices of titanium metal averaged 7.68 USD/kg in January and peaked during May averaging 19.28 USD/kg.

However, the prices began to stabilize in the global market due to the muted demands, cautious buying activity and increased speculations about a global recession. The titanium prices stabilized and averaged 13.90 USD/kg towards the end of the second quarter.

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