Titanium is a silver-white, metallic element used primarily to make light, strong alloys. Its atomic symbol is Ti. It ranks ninth in abundance among the elements in the crust of the earth but is never found in the pure state. It occurs as an oxide in various minerals. It was first discovered in 1791 by Rev. William Gregor and was first isolated as a basic element in 1910. Titanium was named after the mythological Greek god Titan.

Pure titanium is soluble in concentrated acids but insoluble in water. Titanium is extremely brittle when cold, but is malleable and ductile at a low red heat, thus easily fabricated. Due to its strength, low weight, and resistance to corrosion, titanium is used in metallic alloys and as a substitute for aluminum. It is used extensively in the aerospace industry, in desalinization plants, construction, medical implants, paints, pigments, and lacquers.

Prices – The price of the mineral ilmenite, a primary source of titanium, has generally risen over the past decade and hit new highs of -110 per metric ton in 2001. The price of titanium metal sponge in 2001 fell to .58 per pound from .95 in 2000. The price of titanium dioxide pigments (Anatase) was unchanged in 2001 at 92-94 cents per pound. The price of titanium dioxide pigments (Rutile) rose to .00-1.09 in 2001 from .99-1.02 in 2000.

Supply – World production of titanium ilmenite concentrates in 2001 rose +1.0% to a new record high of 5.060 million metric tons. The largest producer of titanium ilmenite concentrates is Australia with 40.5% of world production in 2001, followed by Norway with 14.8%, Ukraine with 11.9%, and India with 8.5%.

World production of titanium rutile concentrates in 2001 fell –2.3% to 378,000 metric tons from 387,000 metric tons in 2000. The world’s largest producers are Australia with 55% of world production, followed by South Africa with 24% and the Ukraine with 16%.

Demand – US consumption of titanium dioxide pigment in 2001 fell -4.3% to 1.100 million metric tons from 1.150 million metric tons in 2000. US consumption of ilmenite in 2001 fell -5.6% to 1.180 million metric tons from 1.250 million metric tons in 2000. US consumption of rutile in 2001 fell sharply by -10.1% to 483,000 metric tons from 537,000 metric tons in 2000.

Trade – US imports of titanium dioxide pigment in 2001 fell –4.1% to 209,000 and accounted for 19% of US consumption. US imports of ilmenite in 2001 rose +15.5% to 1.060 million metric tons and accounted for 90% of US consumption. US imports of rutile in 2001 fell –25.8% to 325,000 and accounted for 67% of US consumption.