For the Quarter Ending September 2025
North America
• In United States, the Ferro Titanium Price Index rose quarter-over-quarter in Q3 2025, driven by rising production costs and steady demand.
• Industrial natural gas costs increased in Q3 2025, alongside rising industrial electricity prices across most U.S. regions.
• Aerospace manufacturing demand strengthened in Q3 2025, while automotive market activity remained steady.
• Overall U.S. construction spending increased in August 2025, supported by public infrastructure and data center projects.
• Slow industrial production growth of 0.1% year-over-year in September 2025 indicated subdued overall industrial sector expansion.
• Producer Price Index increased 2.6% year-over-year in August 2025, reflecting rising input costs for steel manufacturers.
• North American steel production increased in Q3 2025, but domestic titanium sponge production remained constrained.
• Consumer confidence declined to 94.2 in September 2025, suggesting caution in consumer spending on durables.
• Consumer Price Index rose 3.0% year-over-year in September 2025, contributing to higher raw material and energy costs.
Why did the price of Ferro Titanium change in September 2025 in North America?
• Rising industrial natural gas and electricity costs in Q3 2025 increased Ferro Titanium production expenses.
• Strengthening aerospace demand and increased overall construction spending supported Ferro Titanium consumption.
• Constrained domestic titanium sponge production, coupled with increased steel output, tightened supply.
APAC
• In China, the Ferro Titanium Price Index fell quarter-over-quarter, influenced by declining domestic steel consumption in Q3 2025.
• China's Consumer Price Index declined by 0.3% year-on-year in September 2025, indicating weak consumer demand.
• The Producer Price Index fell by 2.3% year-on-year in September 2025, reflecting lower industrial goods prices.
• The Manufacturing Index was contracting in September 2025, signaling reduced overall industrial activity.
• Industrial production in China increased by 6.5% year-on-year in September 2025, supporting demand for industrial materials.
• Ferro Titanium production costs were influenced by sustained increases in titanium ore raw material prices in Q3 2025.
• Robust growth in high-tech, equipment, and automotive sectors supported Ferro Titanium demand in Q3 2025.
• Significant increases in China's Ferro Titanium imports during Q3 2025 contributed to market supply pressure.
Why did the price of Ferro Titanium change in September 2025 in APAC?
• Declining domestic steel consumption reduced primary end-use demand for Ferro Titanium in China.
• A contracting Manufacturing Index signaled reduced industrial activity in September 2025.
• Increased Ferro Titanium imports contributed to competitive market conditions in China during Q3 2025.
Europe
• In Germany, the Ferro Titanium Price Index fell quarter-over-quarter in Q3 2025, influenced by contracting industrial activity.
• Ferro Titanium production costs eased due to a 1.7% decline in producer prices in September 2025, driven by lower energy.
• The Manufacturing Index contracted in Q3 2025, and industrial production decreased 1.0% in September, dampening Ferro Titanium demand.
• Titanium sponge prices experienced a significant downward trend in July 2025, reducing Ferro Titanium feedstock costs.
• Elevated ilmenite inventory levels in North America during Q3 2025 indicated ample feedstock supply.
• European natural gas prices showed broad upward pressure in Q3 2025, impacting energy-intensive production.
• Retail sales rose 0.2% in September 2025, offering a slight, indirect positive signal for consumer goods demand.
• The unemployment rate remained stable at 6.3% in September 2025, reflecting cautious economic conditions.
• Ferro Titanium price forecast remains subdued due to persistent year-on-year declines in German steel production.
Why did the price of Ferro Titanium change in September 2025 in Europe?
• Contracting Manufacturing Index in Q3 2025 and weak industrial activity reduced steel and Ferro Titanium demand.
• Lower producer prices, down 1.7% in September 2025, especially for energy, eased production costs.
• Increased titanium sponge availability in July 2025 and elevated ilmenite inventories boosted supply.
