Do you have any scrap titanium connotes you wish to sell? If yes, this article is a good read. We’ll be talking about the average titanium scrap price around the country.
In addition, we’ll highlight some factors that affect the price of this metal on the market. Then we’ll list possible places you sell your scrap and make extra cash.
Let’s ride on.
Titanium Scrap Price
Titanium is a strong material that can be used as an alloying agent with other metals. We refer to aluminum, molybdenum, and iron.
According to experts, the metal is 45 percent lighter than steel, twice as strong as aluminum, and 60 percent heavier. This makes them resistant to temperature, fatigue, cracking, and corrosion.
NASA and other manufacturing industries use titanium for high-stress military applications. These include spacecraft, missiles, sporting goods, automotive applications, naval ships, and other advanced technologies.
Type of Titanium Scrap You Can Sell
You must know the type of titanium scrap that is worth the money. This will help you avoid throwing valuable items in the trash.
Fortunately, you can sell a variety of titanium scraps ranging from bars, turbine blades, and disks. Moreover, titanium billets plate and trimmings can fetch you a reasonable amount as scrap.
Furthermore, if you have titanium pipes and tubs, you can also consider selling them. These kinds of metals are highly sought after on the secondary market.
Historical Price of Titanium Price
The prices of this metal have been fluctuating over the years.
While in some seasons, the price will go high, in other seasons, the price drops significantly. Having sound knowledge about their past prices can assist you in determining how much your scrap will be worth today.
From 1997 to 2004, this metal was valued at around $9,800 per ton. Then from 2005 to 2007, the price skyrocketed from $11,400 to $16,700 per ton. But from 2008 to 2018, the price drops from $8,800 to $4,800.
Recycled Titanium Prices Today
The average price of titanium scrap is $0.35/lb.
This price rate is derived through weighted average purchases, including contract and spot transactions. The data comes from compiling and processing data reported for each nation.
However, the price is subject to change at any time. Some special market conditions can significantly influence its value. In the next paragraph, we’ll talk about those factors.
Elements that Influence the Price of Titanium Scrap
As highlighted above, certain factors may influence the price of scrap titanium. Among these factors are strong demand for titanium and its products, processing difficulty, and production cost.
Others include international trade, economic conditions, alternative materials, environmental regulations, etc. Allow us to discuss these influencing variables briefly.
Cost of Production
Titanium is scarce and, therefore, hard to get. It’s made of ilmenite and rutile. These two resources are relatively rare and often found in small quantities.
For that, it affects the pricing of this scrap titanium.
You may wonder how technological advancement can affect the cost of this scrap metal. Remember, the aircraft and marine industry uses titanium materials for its airframes, landing gear, engine, and more.
Whenever there’s a constant demand for titanium, it changes the price equilibrium; likewise, when there’s an increment in fuel price.
Tariffs and quotas imposed by the government on international trade can affect the price of scrap titanium. Such imposed regulations often disrupt the balance between supply and demand.
This makes the price go up at specific periods and drop at others.
How do we Figure Out the Price of Titanium Scrap?
Typically, you can figure out the price of this metal in two ways. First, check out the cost of titanium O2. Next, you figure out the price of the metal itself.
Like other commodities, the price is subject to change based on the abovementioned elements. For instance, titanium was around $21,000 per metric ton in 2005.
Then in 2016, the price dropped to $3,750 per ton.
Buyers Of Titanium Scrap
You don’t have to worry about who will buy your scrap because multiple options are available.
Scrap metal recyclers will accept leftover titanium trimmings or parts that contain this metal. While some offer free pickup services, others may provide bobtails and roll-offs to help remove your scrap efficiently.
Moreover, you can sell your scrap titanium to scrap dealers and junkyards. These businesses deal with metals of varying kinds, including titanium. They often collect scrap metal and transform them into something entirely new.
Furthermore, you can also sell your scrap titanium online.
There’re reputable online platforms that can link you to potential buyers. These platforms include eBay, Craigslist, Freecycle, Facebook Marketplaces, and more.
Why Scrap Titanium Prices are High
There are a few reasons why this scrap has a high value. In this paragraph, we’ll list some reasons that discourage purchasers from buying them. Check out some of these reasons below.
Challenging to Process
Both the production and reprocessing of titanium can be challenging.
Like an electric furnace, the metal requires high temperatures to become a new structural material. Furthermore, transforming sponge titanium into ingots and plates will require dozens of procedures.
Sometimes, you’ll be required to smelt this metal twice. After that, the material may pass through cold and hot rolling.
Fewer Manufacturing Industries
Unfortunately, only a few standard manufacturing companies process and reprocess titanium scraps. Before you can locate one of their facility, it’ll take time and effort.
For this reason, it raises the price of this metal.
High Demand for Titanium Products
While there’re fewer scraps and reprocessing facilities, the demand for titanium products is increasing.
Some experts say the consumption rate of titanium is directly proportional to the comprehensive national strength and developmental level.
So whenever the comprehensive national strength of various countries increases, this resource’s consumption also spikes rapidly.
As you can see above, titanium is one of the metals that’s in high demand. Several buyers will be willing to pay a reasonable amount for such metals.
If you have some scraps lying in your house, consider selling them. You can estimate how much you can get from your titanium scrap from the abovementioned price range.