Toho Titanium to Hike Sponge Titanium Export Price by 10% in 2008

Toho Titanium said on Thursday the firm is in talk with offshore rolled titanium makers to increase the sponge titanium selling price by around 10% for 2008 shipment. The firm also increases the selling price by near 10% for domestic rolled titanium makers for 2008. The firm tries to improve the profitability through the hike when the demand is strong for airplane and industry applications. The price increases for 4 years in a row when the high grade rolled titanium supply is tight due to higher demand for airplane while the commodity grade rolled titanium price is weak under higher sponge supply worldwide. Toho Titanium, however, increases the price moderately compared with the past hikes. The firm sets the domestic hike at less than 10% to expand the domestic demand. Toho Titanium plans to expand the titanium supply by around 17,000 tonnes to 50,000 tonnes by 2015 to meet strong demand. Osaka Titanium Technologies, which is former Sumitomo Titanium, said on late October the firm got around 10% higher export price for 2008 shipment. The firm increased the price by 30% in 2005, 20% in 2006 and 30% in 2007.