Analysis on China Sponge Titanium Production Data of February 2023

May 29, 2024, 11:58 AM

TDDchem.com

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Highlights at a glance

In February 2023, China's sponge titanium production reached 17,776 tons, marking an 81.39% increase year-on-year, but a slight decrease of 0.97% from January. Accumulated production for January-February was 35,700 tons, up 74.45% YoY. Despite stable production, downstream demand is recovering slowly, impacting pricing and costs in the market.

According to the statistics data from LYDD, the production of sponge titanium in China in February 2023 was 17,776 tons, a year-on-year increase of 81.39%, a month-on-month decrease of 0.97%. The accumulated sponge titanium production from January to February was 35,700 tons, with a year-on-year increase of 74.45%.

The capacity of the sponge titanium market has been stably released, and with the release of enterprise capacity, the production of sponge titanium continued to increase in March.

The top three regions in terms of production volume in February were Liaoning Province, Yunnan Province, and Xinjiang Province, accounting for 30%, 16%, and 15% of total production respectively.

In February, downstream demand for titanium materials in the sponge titanium market recovered slowly, and some companies in the market received fewer new orders, leading to a continuous increase in the price of raw material titanium ore and an increase in manufacturing costs. Due to supply issues with titanium raw materials, the price of sponge titanium is expected to remain stable later on.