SunSirs: Titanium Sponge Supply Exceeded Demand in January, and Prices Continued to Remain Low
February 01 2024 10:22:48 SunSirs (John)
Price trend
In January, the domestic first-class titanium sponge market was mainly weak and stable. According to the Commodity Market Analysis System of SunSirs, as of January 31st, the benchmark price of domestic first-class titanium sponge was 51,500.00 RMB/ton, a decrease of 4.19% compared to the beginning of this month (53,750.00 RMB/ton).
Analysis review
Raw material side: The market price of high titanium slag remained high. Production enterprises were under cost pressure, and some enterprises hae insufficient operating rates, leading to a shortage of spot goods in the market. It is difficult for high titanium slag market prices to be lowered or further increased.
Import and export data: According to customs statistics, China imported 0 tons of titanium sponge in December 2023, with a cumulative import of about 133.84 tons for the year, a year-on-year decrease of 98.82%, and a decrease of about 11,230.59 tons in import volume. In December 2023, China's titanium sponge exports reached 359.3 tons, a decrease of 68.47% month on month and a year-on-year increase of 204.08%. The export volume had increased by approximately 3,918 tons.
Downstream end: The titanium sponge market had released production capacity too quickly, resulting in an oversupply situation. Downstream procurement was mainly based on rigid demand, and stocking sentiment was not strong. Most were wait-and-see and purchases were relatively cautious.
Market outlook
SunSirs’ Titanium sponge Analyst believes that, high costs supported, and some large enterprises continued to release production capacity. The titanium sponge market supply exceeds demand, and prices continue to be low. More attention needs to be paid to market news guidance.
If you have any questions, please feel free to contact SunSirs with support@SunSirs.com.
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