As the aerospace industry works its way back to ‘business as usual’ after the long COVID-19 lockdown, Globe Metal, Saint-Catherine, Québec, Canada, has reported seeing the titanium market improving, bringing with it an increased price and end to titanium scrap shortages.
The aerospace industry accounts for 90% of the titanium market. When aviation came to a halt in April 2020, titanium prices dropped dramatically. By the third quarter of the year, many products were experiencing multi-year lows.
May 2021 saw the cost of Chinese Plate rise to just over $18 per kilo, a price not seen since January 2013. Titanium scrap and ferrotitanium are also both trading at multi-year highs, at $4.19 and $8.60 respectively.
Globe Metal produces a continuous stream of raw materials from Additive Manufacturing processes, as well as un- or alloyed titanium. Recycled titanium is then produced either for return to the aerospace industry or to one of many diverse industries requiring titanium, from sporting goods to power plants, at both a lower cost to sourcing raw materials and a lower environmental impact.