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MozambiqueQ1 2025
In Q1 2025, the price of ilmenite experienced a notable decline, dropping by $359.33 per metric ton, CIF Qingdao which equates to a 3.58% decrease from the previous quarter. This downward trend reflects a combination of subdued global demand, particularly from the titanium dioxide pigment and welding industries, and increased supply from major producers such as Australia and Mozambique. The global market also faced pressure from lower-than-expected industrial activity in China, one of the key consumers of ilmenite. Additionally, macroeconomic uncertainties and cautious buying behaviour contributed to the softer pricing. As a result, market sentiment remained bearish throughout the quarter, signalling potential adjustments in production strategies among suppliers if the trend persists.
Q4 2024
In Q4 2024, ilmenite prices experienced a notable decline, dropping by $372.66 per metric ton, CIF Qingdao which corresponds to a 5.01% decrease. This downturn reflects shifting market dynamics, possibly driven by reduced demand in key industrial sectors such as titanium dioxide production or steel manufacturing. Additionally, factors like increased supply, changes in export policies, or broader economic uncertainties may have contributed to the price softness. This decline could impact profitability for producers and prompt buyers to reassess procurement strategies, potentially signalling a more cautious market outlook heading into 2025.
Q3 2024
In Q3 2024, ilmenite experienced a notable price decline, decreasing by $392.33 per metric ton, CIF Qingdao which translates to a 1.75% drop compared to the previous quarter. This downward trend suggests a potential softening in demand or an oversupply in the market, possibly driven by fluctuations in the titanium dioxide pigment industry or shifts in global mining outputs. The price adjustment could also reflect broader economic factors such as changes in production costs, currency volatility, or evolving trade policies impacting key producing regions. Market participants should monitor these dynamics closely, as continued price pressure might influence profitability and investment decisions within the ilmenite supply chain.
Q2 2024
In Q2 2024, ilmenite prices experienced a noticeable decline, dropping by $399.33 per metric ton, CIF Qingdao which corresponds to a 1.07% decrease. This downward movement suggests a subtle weakening in demand or an increase in supply within the market during the period. Factors such as shifts in the titanium dioxide pigment industry, fluctuations in global production, or changes in import-export dynamics could have contributed to this price adjustment. While the percentage drop appears modest, the significant absolute decrease in price per ton indicates potential challenges for producers and traders, possibly prompting a reassessment of supply strategies or cost management to maintain profitability in a slightly softer market environment.
Q1 2024
In the first quarter of 2024, ilmenite prices experienced a notable decline, dropping by $403.66 per metric ton, CIF Qingdao which corresponds to a 1.54% decrease. This downward trend suggests a softening demand or an oversupply in the market, possibly influenced by fluctuations in downstream industries such as titanium dioxide production or changes in global economic conditions. The price adjustment may reflect shifting trade dynamics, input cost variations, or inventory corrections as suppliers and buyers recalibrate to current market realities. Overall, this modest decline highlights the ongoing volatility and sensitivity of the ilmenite market to broader industrial and economic factors.
PriceWatch is your trusted resource for tracking global ilmenite price trends. Our platform delivers real-time data and expert analysis, offering deep insights into the key factors driving price fluctuations in the ilmenite market. By monitoring critical events such as geopolitical tensions, supply chain disruptions, and economic shifts, PriceWatch keeps you fully informed of market dynamics.
In addition, PriceWatch provides detailed forecasts and updates on production capacities, enabling you to anticipate market changes and make well-informed decisions. With PriceWatch, you gain a competitive edge in understanding all the elements that influence ilmenite prices worldwide. Stay ahead of the curve with PriceWatch’s reliable, accurate, and timely ilmenite market data.
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Molecular Weight[g/mol]
CAS No
HS Code
Molecular Formula
Ilmenite is a titanium-iron oxide mineral (FeTiO₃) and a key source of titanium dioxide (TiO₂), widely utilized across industrial, chemical, and manufacturing sectors. Renowned for its high titanium content and magnetic properties, ilmenite is primarily processed to produce TiO₂ pigment, which is essential in paints, plastics, papers, and coatings due to its brightness and opacity. In addition to its role in pigment production, ilmenite is used in the welding industry as a fluxing agent and in the creation of high-performance alloys for aerospace and defense applications. Its natural abundance and chemical stability also make it valuable in environmental remediation and emerging energy technologies.
Packaging Type
Grades Covered
Incoterms Used
Synonym
PriceWatch Quotation Terms:
Ex-Location: This incoterm refers to a shipping agreement where the seller makes the goods available at their premises, and the buyer is responsible for all transportation costs, including shipping, insurance, and any other fees.
CIF: CIF refers to the Cost, Insurance, and Freight (CIF) terms for goods. Under CIF terms, the seller is responsible for the cost of goods, insurance, and freight charges until the goods reach the port of destination.
FD: FD stands for Free Delivered where the seller takes full responsibility for delivering goods to the location/port. This ensures the buyer receives the goods at the designated port with all necessary costs, except import duties, covered.
FOB: FOB refers to the Free On-Board shipping term, where the seller is responsible for the cost and risk of delivering the goods to the port. Once the goods are on board the vessel, the responsibility shifts to the buyer for all costs, including shipping and insurance.
| Parameter | Specification (Typical) |
| TiO₂ Content | ~52% |
| Fe₂O₃ (Iron Oxide) | 25–30% |
| SiO₂ (Silica) | ≤ 5% |
| Al₂O₃ (Alumina) | ≤ 2% |
| CaO + MgO | ≤ 1.5% |
| Moisture | ≤ 0.5% |
| Specific Gravity | 4.5–5.0 g/cm³ |
| Bulk Density | ~2.4–2.8 g/cm³ |
| pH (5% solution) | Neutral to slightly acidic (5–7) |
| Melting Point | ~1,500°C |
Applications
Raw Material Availability – Ilmenite is a primary ore of titanium and is mined from hard rock deposits or heavy mineral sands. Variations in ore grade, mining conditions, and resource depletion can affect availability and influence pricing.
Supply and Demand – Ilmenite demand is largely driven by the titanium dioxide (TiO₂) pigment industry (used in paints, plastics, paper) and titanium metal production. Surges or drops in demand from these sectors directly impact pricing. Seasonal or cyclical trends in construction and consumer goods also affect demand.
Production and Processing Costs – Ilmenite must often be processed through upgrading methods such as chloride or sulfate route beneficiation to produce high-grade feedstock. The energy, labor, and chemical costs associated with this refining process can substantially influence prices.
Environmental Regulations – Stricter environmental controls, especially concerning mining waste management and emissions from processing plants, can increase production costs and reduce effective supply, thereby pushing prices up.
Global Trade Policies & Tariffs – Export restrictions or tariffs, especially by major producers like India, Mozambique, or China, can shift global supply dynamics. Anti-dumping duties and import restrictions in key consuming countries also affect market pricing.
Geopolitical Risks and Regional Instability – Ilmenite production is concentrated in a few regions (e.g., Africa, Australia, India). Political instability, conflict, or policy uncertainty in these regions can disrupt supply chains and impact global prices.
Technological Advancements – Innovations in extraction, beneficiation, or recycling can shift supply curves and potentially lower production costs, affecting market prices over time.
Exchange Rates – As ilmenite is globally traded, fluctuations in currency (e.g., Australian Dollar, Indian Rupee, U.S. Dollar) affect export competitiveness and international pricing.
Market Competition and Substitutes – The presence of alternative feedstocks like rutile and synthetic rutile can influence ilmenite demand. Competitive dynamics between producers also determine pricing strategies.
The availability and cost of raw materials such as high-carbon steel and alloy coatings directly affect Ilmenite production costs and pricing.
Ilmenite prices tend to rise with inflation, influenced by escalating energy, transportation, and processing costs, while sustained demand from the pigment, welding, and aerospace industries helps anchor pricing amid broader economic fluctuations.
PriceWatch offers a range of tools and services to track commodity prices effectively:
Real-Time Data: Access market intelligence and data on global Ilmenite supply chains.
Expert Analysis: Insights on market trends and potential risks.
Risk Assessment: Tools to evaluate supply chain vulnerabilities.
Benchmarking: Compare Ilmenite prices and sourcing practices.
Supplier Intelligence: Information on supplier reliability and financial health.
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