Review on titanium price trend and some titanium applications
 

Although titanium is one of the most abundant elements in the earth's crust, it is quite expensive metal due to the high costs of production. The end product of titanium refining and processing is the titanium sponge.

The price depend on how pure titanium is, respectively pure titanium costs more than alloy. Tiatnium prices are also determined by alloy, specification, configuration, grade. Since titanium mill products are produced in a variety of commercially pure grades and titanium alloys in sheet, pipe, plate, rod, bar, wire and tubing forms, the prices vary.

You can receive the most current titanium pipe price, titanium sheet or wire price directly from the websites of the leading titanium producers and traders like Electrovek-steel.

Another component of the price-formation is the supply and demand. Since titanium sponge is only produced in several countries like China, Japan, Russia, USA, Ukraine, if there is a reduction in the export from some of the leading producers, the prices would increase. The sponge shortage in 2005, 2006 caused increase in price to $30 per kilogram. There was an increasing demand from aircraft industry at the same time. Prices of ingot and mill products reached the peaks in 2006, 2007.

As new sponge capacities were created in the main producing countries, in 2009 and 2010 the capacity was surplus to demand. Since late 2008, due to global economic slowdown and delays in production of Boeing and Airbus aircraft there was a fall in titanium demand.

The sponge prices are steadily dropping since 2006 and by 2010 were about $10 per kilogram. In mid-2011 titanium sponge prices rose to $13 per kilogram, the biggest increase since early 2008.

According to titanium metal market outlook from Roskill, demand is expected to grow by 6% per year to 2015. Prices for sponge are not likely to move significantly above USD 10 per kilogram until 2014.

Apart from the aviation industry, titanium mill products (sheet, plate, rod, bar, wire, pipe and tube) are used widely in industries such as the automotive industry, petrochemicals, power generation, heat exchangers, metallurgy. Considering that titanium is durable and resistant to heat, corrosion, salt and water, titanium pipe and tube for example is widely used in marine applications, shipbuilding, in oil and gas extraction, petrochemical plants, power plants.

You can receive more information on titanium prices and different applications for titanium mill products here.