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Analysis of China's Sponge Titanium Production in June 2023

In June 2023, China's sponge titanium production was 18100 tons, an increase of 28.46% year-on-year and a decrease of 2.95% month on month; From January to June 2023, the cumulative production of sponge titanium reached 109900 tons, a year-on-year increase of 59.65%, with an increase of approximately 41100 tons in production.

The market price is falling rapidly, with high raw material cost prices and high production pressure on enterprises. The output of semi process enterprises is declining, and the entire process enterprises are under pressure. It is expected that the market output will decrease again in July.

In June 2023, the top three production areas of sponge titanium in China were Liaoning, Yunnan, and Xinjiang, accounting for 29%, 17%, and 15% of the total domestic production, respectively.

In June, the price of sponge titanium significantly declined due to weak terminal demand and oversupply in the sponge titanium market, resulting in a sustained decline in market prices; The price of raw material magnesium ingots has remained stable at around 20000 yuan/ton, while the price of titanium raw materials remains high. The cost of sponge titanium is high, and the production pressure on enterprises is high. The market has continued to decline. In addition, the market is affected by buying up and not buying down, and downstream enterprises are mainly wait-and-see. The market's new order situation is not good, and the price of sponge titanium is stable and weak.

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