Sharp increase of titanium sponge price today
Today 14th December 2020, the price of level 1 titanium sponge was raised to 64,000 yuan/ton, and the market price was raised significantly. Since November, the price of raw material titanium tetrachloride has increased by 1000 yuan/ton due to the cost pressure. Secondly, the price of magnesium ingot has risen to a new high this year. The market price has risen from the mainstream price of 12,450 yuan/ton in early November to 15,500 yuan/ton. Raw material cost rises substantially, together with the titanium sponge enterprise inventory is tight and the order is good, titanium sponge quotation also rises substantially accordingly.
Titanium sponge’s raw material is titanium tetrachlorid, and supply of titanium tetrachloride is short recently, which effected the production of titanium sponge enterprise.
Domestic demand of titanium tube has been soaring in second half of 2020, most of Chinese manufacturers recovers high yield with raising of titanium tube demand. In the meantime, the currency rate of US Dollar against China Yuan is still staying at 6.52, this also drives Chinese titanium tube suppliers to quote higher price.
