China's Titanium Sponge Exports Rise While Imports Decline in 2024

Titanium Sponge

Increased Demand from Key Markets Drives Export Growth

China's titanium sponge exports rose in 2024 due to increased demand from South Korea, the US, and Japan. According to customs data, exports reached 5,993 tonnes, marking a 2.7% increase from 2023 levels. In December alone, exports surged to 752 tonnes, more than doubling from 359 tonnes a year earlier. South Korea, Japan, and Taiwan emerged as the primary buyers, importing 191 tonnes, 290 tonnes, and 80 tonnes, respectively.

South Korea’s imports of Chinese titanium sponge tripled in 2024, reaching 1,565 tonnes compared to 515 tonnes in 2023. Japan’s purchases more than doubled to 1,162 tonnes, while the US saw an almost eight-fold increase, acquiring 1,098 tonnes.

Declining Imports Due to Domestic Supply and Price Differentials

China’s titanium sponge imports fell by 24% in 2024, dropping to 101.9 tonnes from 133.8 tonnes in 2023. The decrease was attributed to sufficient domestic supply and high international prices. In December, China imported only 0.3 tonnes, contrasting with zero imports recorded in November 2024 and December 2023.

The average price for 99.7% grade titanium sponge in China stood at 49,666 yuan ($6,841) per tonne in 2024, or $6.86 per kilogram. In comparison, European titanium sponge prices averaged $11.50 per kilogram, making imports less economically viable for Chinese buyers.