North Nonferrous Metals Network published its Titanium Market Daily on October 23, 2026, showing that titanium product prices were flat across the board compared with the previous trading day. That day, Longbai Group rose 2.05% intraday to RMB 14.46 per share, but the titanium dioxide sector index fell 1.42%, with 9 constituent stocks declining and only 1 advancing; Baoji Titanium dropped 2.56%. On the same day, Longbai Sichuan Titanium made public a new patent for a process to improve the hydrolysis rate of sulfate-process titanium dioxide. On the industry side, Yongjin Co., Ltd.'s planned titanium material capacity is 100,000 t/yr, of which 35,000 t had been built by the end of H1 2026, accounting for about 17.5% of national titanium material output; its H1 titanium material output of 10,500 t already exceeded the full-year 2025 total. Titanium materials have achieved batch application in the 3C sector, and high-margin new products such as composite foil for VC vapor chambers are being commercialized at an accelerating pace. On October 21, the Nanzhao County Government and Jiangsu Hasen Intelligent Manufacturing signed a titanium metal powder manufacturing project, with Phase I investment of RMB 100 million, adopting processes such as plasma atomization; construction is planned to start in November and production in March next year, with annual revenue of more than RMB 300 million after reaching full capacity. At the market level, titanium concentrate and sponge titanium are approaching or falling below the cost line; high operating rates and high inventories mean the oversupply pattern remains unchanged, and production cuts are passive contractions. Demand is supported only by essential needs; titanium dioxide downstream users buy only as needed, chemical-grade titanium material orders are relatively weak, and the military and aerospace volume is insufficient to drive the overall market, with buyers and sellers locked in a standoff that has produced price stability at low trading volumes. For the metal additive manufacturing supply chain, the standoff in sponge titanium and titanium concentrate prices near the cost line means the titanium powder raw material side lacks a clear directional signal in the short term; meanwhile, the landing of Hasen Intelligent Manufacturing's plasma-atomized titanium powder project points to continued expansion of domestic high-end spherical titanium powder supply capacity, and the batch adoption of titanium materials in consumer electronics applications such as 3C and VC vapor chambers is also opening non-aerospace incremental scenarios for additive manufacturing titanium powder. Value to powder buyers: (1) Watch Hasen Intelligent Manufacturing's production start-up node in March next year and assess in advance the qualification window for plasma-atomized titanium powder as a second supply source; (2) with sponge titanium prices approaching the cost line, buyers can remain on the sidelines regarding long-term titanium powder contract prices and avoid locking in volumes at high levels; (3) track the pace of Yongjin Co., Ltd.'s titanium material ramp-up in 3C and VC vapor chambers to judge the demand elasticity of titanium powder for consumer electronics.