The slide paused — on paper. Quoted lists for Grade 0 sponge titanium held just above RMB 40,000/t through the first week of November, and this morning's assessment narrowed the range to 41,000–42,000. But today's weekly mill survey went further: the mainstream Grade 0 quote is now RMB 40,000 and some deals are printing at 39,000 — transactions, not just one index, have entered the "3" era. This is stabilisation at historic lows, not a rebound: the cost floor under prices is still moving down. For buyers of standard grades, the waiting game has not ended — but suppliers can now be engaged without chasing a falling number.
Sponge prices: morning assessments of 9 November 2026. Mill-product ranges: weekly survey published 9 November covering the trading week of 2–6 November. RMB prices are China domestic ex-works including 13% VAT. USD figures are indicative conversions at 6.7188 only — they are not export prices.
| Product | China grade | ASTM equiv. | Size / spec | Price (RMB) | Ind. USD |
|---|---|---|---|---|---|
| Sponge titanium | |||||
| Sponge, Grade 0 | 0# | — | — | 41,000–42,000 /t | $6,100–6,250 /t |
| Sponge, Grade 1 civil | 1# | — | — | 40,000–41,000 /t | $5,950–6,100 /t |
| Sponge, Grade 2 | 2# | — | — | 39,000–40,000 /t | $5,800–5,950 /t |
| Ingot & slab | |||||
| Pure titanium ingot | TA1 | Gr1 | — | 51,000–55,000 /t * | $7,590–8,190 /t |
| Pure titanium ingot | TA2 | Gr2 | — | 50,000–52,000 /t | $7,440–7,740 /t |
| Alloy ingot | TC4 | Gr5 | — | 62,000–64,000 /t | $9,230–9,530 /t |
| Slab, pure titanium | — | — | — | 64,000–65,000 /t | $9,530–9,680 /t |
| EB-melted slab | — | — | — | 66,000–68,000 /t | $9,830–10,120 /t |
| Plate, sheet & coil | |||||
| Hot-rolled medium plate | TA1/TA2 | Gr1/Gr2 | 1.2 m width | 63,000–67,000 /t | $9,380–9,980 /t |
| Cold-rolled sheet | TA1 | Gr1 | 2.0 mm | 72,000–76,000 /t | $10,720–11,310 /t |
| Hot-rolled black coil | pure Ti | — | — | 70,000–73,000 /t | $10,420–10,870 /t |
| Cold-rolled coil | pure Ti | — | by width | 74,000–83,000 /t | $11,020–12,360 /t |
| Alloy plate | TC4 | Gr5 | standard sizes | 160,000–180,000 /t | $23,820–26,800 /t |
| Alloy plate | TA10 | Gr12 | — | 140,000–160,000 /t | $20,840–23,820 /t |
| Tube & pipe | |||||
| Tube hollow / pierce billet | pure Ti | — | — | 82–85 /kg | $12.2–12.7 /kg |
| Seamless tube | TA1 | Gr2 | 20–30 mm | 120–125 /kg | $17.9–18.6 /kg |
| Welded tube | TA1 | Gr2 | — | 105–110 /kg | $15.6–16.4 /kg |
| Rod, bar & wire | |||||
| Bar, peeled | TA1 | Gr1 | 20–40 mm | 105–110 /kg | $15.6–16.4 /kg |
| Bar, peeled | TC4 | Gr5 | 20–40 mm | 120–125 /kg | $17.9–18.6 /kg |
| Wire | pure Ti | Gr1/Gr2 | 2–5 mm | 140–220 /kg | $20.8–32.8 /kg |
| Wire | TC4 | Gr5 | 2–5 mm | 240–280 /kg | $35.7–41.7 /kg |
| Flanges, fittings & machined parts | |||||
| Flanges, fittings, agitators, coils, heat-exchanger and reactor components — Quoted per order | — | ||||
* TA1 ingot spans three readings: the weekly mill survey (9 November) prints 51,000–53,000; a national daily assessment printed 53,000–55,000 on 2 November (−1,000 on the day); a Baoji platform posted 55,000–56,000 on 6 November. Cold-rolled coil spans narrow to wide widths.
Three readings tell you this stabilisation is fragile. First, a spot sponge index printed 39,653 RMB/t on 6 November. Second, a northern producer's high-titanium slag tender settled at 4,990 RMB/t, down 210 from the previous round. Third — and decisive — this morning's weekly survey confirms actual transactions at 39,000, not just the index. When the input costs under a flat price keep falling and real deals already print below it, the flat quote usually follows. Chinese commentary is consistent: demand is need-based only, producers run full, and the standoff continues.
Panzhihua 46% ore is assessed around 1,060–1,120 RMB/t ex-works excluding VAT (some postings at 1,150), with some smaller miners below cash cost. Slag tenders are settling lower, titanium tetrachloride holds 5,600–6,000. The integrated 60,000 t/yr Anning project — ramping since late September with a break-even near 40,000 RMB/t — keeps sponge economics anchored to a floor that moves down with it.
Sponge producers remain essentially at full capacity with high inventories; buyers order just in time and press on price. The "Golden September, Silver Ten" season passed without a pickup. Aerospace and military demand stays strong but too small in tonnage to lift the civil market.
India's anti-dumping duties on Chinese TiO2 (USD 460–681/t, five years, reinstated 24 October) are now in force alongside EU and Brazil measures, with UK and Japan probes pending. A weaker TiO2 chain feeds back into ore and sponge demand. September's export prints were strong on paper — but the marginal direction is restriction, not expansion.
The case against locking long changed shape but not direction. Quoted lists stopped falling this week, yet real deals already print at 39,000 and the cost floor keeps moving down. Keep coverage short (under one month). What changed: suppliers with high inventories are now more willing to talk on lead time, payment terms and quantity tolerance — start those conversations now, while they need the order more than you need the stock.
Stay batched, keep price-lock windows at a month or less. Quoted lists are still above 40,000, but actual deals already print below it — a second leg down in civil titanium looks like a matter of when, not if. There is still no cost to waiting.
Unchanged, and unchanged for weeks: alloy ingot and plate have not followed sponge down. Lock delivery certainty and certification paperwork; do not expect a material discount here. For non-standard parts — agitators, coils, heat exchangers, machined components — negotiate fabrication separately from material; fabrication capacity is where the negotiation room is.
Looking for current stock and short lead times on plate, tube, bar or custom parts? See our Titanium Plate and seamless tube pages, or send your drawing for a same-week quotation from Baoji.
Sources: Mysteel daily titanium market update (9 November 2026); Shanghai Metals Market (SMM) and China Nonferrous small-metals spot assessments; weekly mill survey of finished-mill-product quotations (published 9 November 2026); Northern Nonferrous Metals Network daily market reports (2–6 Nov 2026); General Administration of Customs monthly export statistics. FX reference: CFETS central parity rate, 9 Nov 2026.
Sponge prices reflect morning assessments of 9 November 2026; mill-product ranges reflect a weekly survey published 9 November 2026 covering the trading week of 2–6 November. Figures are indicative market reference prices, not offers. Actual transaction prices depend on specification, quantity, schedule and payment terms. This report is general market information and does not constitute a trading or investment recommendation.
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