Anning Shares' 60,000-Ton Energy-Grade Titanium Alloy Materials Project Produces First Batch of Titanium Sponge: Single Furnace Output of ~13 Tons Enters Trial Production

On September 26, Sichuan Anning Iron and Titanium Co., Ltd. (Anning Shares, 002978) successfully produced the first batch of titanium sponge from its 60,000-ton-per-year energy-grade titanium (alloy) materials full-industry-chain project, with a single-furnace output of approximately 13 tons. Product quality met design requirements, and the project has since entered the trial production phase. The company disclosed this information in a progress announcement (No. 2026-052) issued on September 29. This project is a core part of Anning Shares' strategy to vertically extend its industrial chain based on vanadium-titanium magnetite resources, covering the full industry chain of titanium (alloy) materials from raw materials to finished products. Following the output of the first batch of titanium sponge, subsequent stages will gradually release capacity and increase output, though full capacity attainment will still take some time. The company also flagged risks related to production equipment, output and quality stability, as well as the impact of raw material price fluctuations and increased depreciation and amortization on operating performance. Titanium sponge is the direct upstream raw material for titanium powder and titanium alloy powder. The pace of domestic titanium sponge capacity release directly affects the cost and supply stability of titanium alloy powders. As demand for titanium alloy powders continues to grow in additive manufacturing and aerospace, integrated mining-and-materials enterprises extending into the titanium sponge–titanium products–titanium powder chain are reshaping the domestic titanium powder raw material supply landscape. Value for powder buyers: ① Increased titanium sponge output is expected to ease raw material tightness for titanium alloy powders; attention should be paid to raw material cost pass-through for commonly used grades such as TC4 and TA15. ② New capacity backed by integrated mining-and-materials operations entering the market can be included in evaluations for diversifying the powder supply chain. ③ Risk note: The project is still in the trial production phase, and the pace of capacity ramp-up and quality stability require continuous monitoring.