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Ilmenite Price Trend and Forecast

UNSPC code: 15121902
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⟳ Weekly Update
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Historical Data Since 2015
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Forecast for 2026
  • Commodity Pricing

ilmenite Price Trends by Country

cnChina
mzMozambique

Global ilmenite Spot Market Prices, Trend Analysis and Forecast

Price-Watch’s most active coverage of Ilmenite price assessment:

  • Purity:52%min. FOB Mozambique, Mozambique
  • Purity:52%min. CIF Qingdao (Mozambique), China

Ilmenite Price Trend Q3 2025

In Q3 2025, the global Ilmenite market displayed a mixed trend, with overall prices declining slightly by around 0.13% from the previous quarter. While some regions witnessed stable demand from the pigment and welding industries, others faced mild downward pressure due to subdued titanium dioxide production activity. In China, marginal oversupply and cautious buying sentiment kept market conditions soft, whereas Mozambique saw relatively firm export offers supported by consistent overseas inquiries.

Weakness in global construction and coatings demand, coupled with moderate feedstock availability, led to limited price fluctuations overall. Despite regional variations, the market largely remained balanced, ending the quarter with a marginal decline and a cautiously neutral outlook.

China

Ilmenite Import prices CIF Qingdao, China, Purity:52%min.

According to PriceWatch, in the third quarter of 2025, Ilmenite prices in China decreased by 0.30% compared to the previous quarter, indicating a minor decline in market sentiment. The modest weakening has primarily been a result of stable, and conservative, demand from the titanium dioxide and welding electrode markets, along with steady supply conditions. While raw material and energy prices have been stable, limited export demand, and conservative consumption downstream limited price action.

Producers continued to operate at normal production levels, and end-users were cautious regarding procurement levels, given stock levels appeared balanced. Overall, the market had a mildly bearish tone, with Ilmenite pricing marginally lower than the previous quarter. In September 2025, Ilmenite prices in China fell by 2.43%, primarily due to weaker demand from both pigment and titanium dioxide sectors due to softer manufacturing activity. Stable local supply levels and build in inventories of Ilmenite also put pressure on prices as export demand remained limited.

Mozambique

Ilmenite Export prices FOB Mozambique, Africa, Purity:52%min.

In Q3 2025, the Ilmenite price trend in Mozambique rose slightly at 0.03% relative to the previous quarter’s prices indicating a stable market with very little serious volatility in the pricing. This slight uptick has been attributed to steady demand from international titanium dioxide producers and continuing shipments to the Asian markets, primarily China and India. Supported by stable mining operations with balanced inventories led to stable pricing.

Adjustments relating to transportation and energy finally resulted in the slight price increase. Overall, the market remained neutral to mildly positive during the quarter, and pricing did demonstrate limited, albeit steady, improvement. In September, however, Ilmenite prices in Mozambique saw a decline of 2.24%. The decline in pricing has largely been attributed to weaker demand from larger consuming countries as well as slower-than-expected demand in global titanium dioxide production.

Ilmenite Price Trend Analysis: Q2 2025

According to the PriceWatch, In Q2 2025, ilmenite prices experienced a modest increase of $360.75 per metric ton, CIF Qingdao reflecting a 0.39% rise compared to the previous quarter. This price movement signals a slow but steady recovery in the market, driven by improving demand in downstream sectors such as automotive and coatings, alongside constrained supply conditions.

While the first quarter saw soft demand and high inventory levels that pressured prices, Q2 benefited from gradual restocking and production stabilization. Spot prices in major markets like Malaysia and the U.S. averaged between $332 and $336 per metric ton, suggesting a cautiously optimistic outlook as the titanium dioxide (TiO₂) sector begins to regain momentum. 

In Q1 2025, the price trend 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. 

Ilmenite Price Trend Analysis: 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. 

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. 

 

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. 

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. 

 

Technical Specifications of Ilmenite Price Trends

Product Description

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 defence applications. Its natural abundance and chemical stability also make it valuable in environmental remediation and emerging energy technologies.

Identifiers and Classification:

  • HS Code – 261400


Ilmenite Synonyms:

  • Ilmenite
  • Titanium iron oxide
  • Titanium ore
  • Titanium-iron oxide
  • Titaniferous iron ore
  • Iron titanium oxide


Ilmenite Grades Specific Price Assessment:

  • Ilmenite Purity:52%min. Price Trend


Ilmenite Global Trade and Shipment Terms

  • Quotation Terms (Product & Country Specific): 10000-15000 MT
  • Packaging Type (Product & Country Specific): Bulk


Incoterms Referenced in Ilmenite Price Reporting

Shipping Term  Location  Definition 
CIF Qingdao  Qingdao, China  Ilmenite Export price from China 
FOB Mozambique  Mozambique, Africa  Domestically Traded Ilmenite price in Africa 

Quotation Terms refers to the quantity range specified for the Ilmenite being quoted or offered in a commercial transaction.

Packaging Type refers to standard packaging size commonly used for Ilmenite packing, ease of handling, transportation, and storage in industrial and commercial applications.

Key Ilmenite Manufacturers

Manufacturer 
Kenmare Resources – Moma Titanium Minerals Mine 
Rio Tinto – Richards Bay Minerals 
Lomon Billions Group (LB Group Co., Ltd.) 
Anning Tietai (Sichuan Anning Iron and Titanium Co. Ltd.) 

Ilmenite Industrial Applications

ilmenite market share end use

Historically, several events have caused significant fluctuations in Ilmenite prices

Energy Costs & Logistics Inflation (2022–2023): The global energy crisis, particularly in Europe and Asia, significantly impacted ilmenite mining and processing costs. Rising fuel and shipping costs, coupled with labor shortages and inflation across supply chains, contributed to elevated ilmenite prices during this period.

Supply Disruptions & Export Controls (2021–2022): Major ilmenite-producing countries such as India, Vietnam, and Mozambique faced regulatory changes and logistical challenges. India, for instance, continued restrictions on private mining of beach sand minerals, including ilmenite, constraining global supply and putting upward pressure on prices. 

Pigment Industry Demand & Post-COVID Recovery (2020–2021): As global economic activity recovered from the COVID-19 downturn, demand for titanium dioxide (TiO₂)—a key end-use of ilmenite in paints, plastics, and coatings—rebounded. This led to increased consumption of ilmenite, supporting upward price movement amidst tightening supply chains. 

Why PriceWatch?

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.

Track PriceWatch's ilmenite price assessment on a weekly basis since 2015 onwards, along with short-term forecasts, and get access to the detailed report in a downloadable format.

Data Collection and Sources​

  • Real-Time Market Data: We gather information from global exchanges, industry reports, and proprietary sources to provide timely and accurate assessments. 
  • On-the-Ground Intelligence: We incorporate insights from producers, suppliers, and end-users across key production regions to offer a comprehensive view of market dynamics. 
  • Supply Chain Monitoring: We track the availability and cost of raw materials  to evaluate supply conditions and price pressures. 

Event Tracking and Impact Analysis​

  • Geopolitical Tensions: We monitor political and economic events that impact supply chains and the flow of ilmenite production. 
  • Market Demand Shifts: Our analysis considers global shifts in industrial and consumer demand, particularly in sectors like automotive, electronics, and renewable energy.

Production Capacity and Supply Analysis

  • Current Production Monitoring: We assess operational Ilmenite production facilities and their output levels. 
  • Future Capacity Projections: We forecast future production capabilities, factoring in technological advancements and production expansions. 

Demand Forecasting

  • Sectoral Demand Analysis: We evaluate demand from major sectors such as automotive catalysts, renewable energy, and electronics. 
  • Regional Demand Dynamics: We assess demand from key markets and regions, especially China and their impact on global pricing. 

Pricing Model Development

  • Dynamic Pricing Models: Our pricing models incorporate real-time data, historical trends, and market projections. 
  • Scenario Analysis: We perform scenario-based forecasting, assessing potential market conditions under various economic, geopolitical, and technological developments. 

Reporting and Client Support

  • Comprehensive Reports: We provide actionable insights, forecasting, and detailed analysis of current and future price trends. 
  • Ongoing Support: PriceWatch delivers continuous updates and expert advice tailored to your business needs. 

Ilmenite Market Price Trend provided by PriceWatch is a base price and excludes VAT/Taxes, discounts, or offers. The information herein is accurate to the best of our knowledge as of the date indicated and is provided solely for the convenience of our customers as a reference for ilmenite. PriceWatch disclaims any warranties or representations regarding the accuracy of results derived from this information. It is the sole responsibility of the user to assess the suitability of the product for their specific application. This document does not constitute an endorsement to use the product in violation of any applicable patent rights.

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.

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