OSAKA Titanium Technologies Raises Sponge Titanium for 4 Years

OSAKA Titanium Technologies, former Sumitomo Titanium Corporation, announced on Monday the firm agreed with overseas customers to raise the selling price of sponge titanium by about 10% for 2008 contracts. The firm raises the selling price for 4 years in a row when titanium demand maintains strong for airplanes and plate-type heat exchangers.Supply of high-grade titanium products keeps much tight although the market price of general- and low-grade products is declining to reflect the increase of global titanium production mainly in China. OSAKA Titanium Technologies raised its selling price of sponge titanium by 30% for 2005 contracts with overseas customers, by 20% for 2006 contracts and by 30% for 2007 contracts.OSAKA Titanium Technologies estimates its titanium revenue would increase by 18% through 2007 compared with 2006 thanks to the latest price hike. The firm seems to raise the sponge titanium selling price against the domestic users effective in April 2008 by the same range as overseas users.