Ilmenite Price Trend and Forecast 2026-2027

Market Overview

In China, the highest-cost reporting region, ilmenite prices stabilised and turned modestly higher through H1 2026 after a sharp decline across 2025. The China average rose from USD 415/MT in Q1 2026 to USD 430/MT in Q2, a gain of about 3.6%. Globally, the average rose from USD 348.50/MT in Q1 2026 to USD 362.50/MT in Q2, a gain of about 4.0%, as trade-defense duties on Chinese titanium dioxide pigment in several export markets helped stabilise downstream pigment pricing and, in turn, feedstock demand. For H2 2026, a global average of USD 355-385/MT is expected, with a partial recovery underway but pricing still well below early-2025 levels.

Ilmenite is a titanium-iron oxide mineral mined from mineral sand and hard-rock deposits, and serves as the primary feedstock for titanium dioxide pigment production and titanium metal manufacture. Sulphate-process titanium dioxide pigment production, concentrated heavily in China, accounts for the largest share of global demand, with chloride-process pigment production for Western paints and coatings markets, titanium metal and titanium sponge manufacture for aerospace, and welding-rod flux production making up most of the remaining major uses. Titanium dioxide pigment demand from paints, coatings, and plastics, Chinese pigment production capacity and import requirements, mine supply from Australia, Mozambique, South Africa, and India, and downstream construction and housing-sector activity are the drivers that move price most consistently.

Ilmenite Price Forecast for 2026

The supply-demand balance for ilmenite through the remainder of 2026 leans toward a continued, gradual recovery from 2025's structural low. Anti-dumping duties on Chinese titanium dioxide pigment in the European Union, Brazil, India, and Saudi Arabia continue to support a broader pigment price recovery that feeds back into feedstock demand, while early signs of a US housing-market recovery add a further demand tailwind. Long-run supply tightness signalled by a major producer's recent investment decision to sustain output at an ageing mineral sands operation supports sentiment even though new production is not expected for several years.

The primary upside risk is a faster-than-expected US housing recovery combined with tighter near-term African mine supply, which would push prices above the forecast range. The primary downside risk is renewed Chinese pigment overcapacity combined with weak global coatings demand, which would pull prices back below the forecast.

For the Quarter Ending June 2026

Ilmenite Prices Q2 2026:

• China: USD 430/MT
• Australia: USD 420/MT
• Mozambique: USD 295/MT
• India: USD 305/MT

Ilmenite Prices in China

Chinese delivered ilmenite prices averaged USD 430/MT in Q2 2026, up about 3.6% from USD 415/MT in Q1 2026, the highest level among the four tracked markets. Continued structural import dependency for sulphate-process pigment production supported the recovery.

Why did the price of Ilmenite change in Q2 2026 in China?

China's sulphate-process titanium dioxide plants continued to rely heavily on imported ilmenite despite ample domestic titanomagnetite reserves. Anti-dumping duties on Chinese pigment exports in several markets stabilised pigment pricing, supporting feedstock demand. Seller inventory levels eased from the elevated levels seen through 2025.

Ilmenite Prices in Australia

Australian FOB prices averaged USD 420/MT in Q2 2026, up about 3.7% from USD 405/MT in Q1 2026. Growing recognition of long-run supply tightness and steady chloride-grade content in the export mix supported the recovery.

Why did the price of Ilmenite change in Q2 2026 in Australia?

Sentiment around long-run supply tightness firmed following a major producer's investment decision to sustain mineral sands output beyond the current decade. Early signs of a US housing-market recovery lifted coatings-sector demand expectations. Chloride-grade content in the export mix continued to command a premium over bulk sulphate-grade material.

Ilmenite Prices in Mozambique

Mozambican FOB prices averaged USD 295/MT in Q2 2026, up about 4.6% from USD 282/MT in Q1 2026, the lowest level among the four tracked markets. A gradual recovery continued after the sharpest decline of any tracked region through 2025.

Why did the price of Ilmenite change in Q2 2026 in Mozambique?

Seller inventory levels eased after an extended period of pricing indiscipline among competing mineral sands producers through 2025. Trade-defense-supported pigment price stabilisation gradually filtered through to feedstock demand. Freight and logistics conditions on African export routes remained stable through the quarter.

Ilmenite Prices in India

Indian prices averaged USD 305/MT in Q2 2026, up about 4.5% from USD 292/MT in Q1 2026. Steady construction-linked pigment demand and gradual regional price stabilisation supported the increase.

Why did the price of Ilmenite change in Q2 2026 in India?

Domestic titanium dioxide pigment production continued to expand alongside steady construction-sector demand. Import dependency on African and Australian material kept landed costs tracking regional delivered benchmarks. Freight costs on import lanes stayed broadly stable through the quarter.

For the Quarter Ending March 2026

Ilmenite Prices Q1 2026:

• China: USD 415/MT
• Australia: USD 405/MT
• Mozambique: USD 282/MT
• India: USD 292/MT

Ilmenite Prices in China

Chinese delivered prices averaged USD 415/MT in Q1 2026, up about 2.5% from Q4 2025, marking the first quarterly increase after four consecutive quarters of decline. Stabilising pigment prices supported the turn.

Why did the price of Ilmenite change in Q1 2026 in China?

Anti-dumping duties on Chinese titanium dioxide pigment exports in the European Union, Brazil, India, and Saudi Arabia began stabilising pigment pricing entering the year. Feedstock buyers resumed more normal purchasing patterns after an extended period of destocking. Domestic titanomagnetite alternatives remained insufficient to meet sulphate-process feedstock requirements.

Ilmenite Prices in Australia

Australian FOB prices averaged USD 405/MT in Q1 2026, up about 2.5% from Q4 2025, as the broader 2025 downtrend showed its first signs of stabilisation entering the year.

Why did the price of Ilmenite change in Q1 2026 in Australia?

A major producer's approval of a long-run mineral sands investment project signalled continued confidence in future supply needs, supporting near-term sentiment. Early commentary on a potential US housing-market recovery began lifting demand expectations. Chloride-grade content in the export mix held its pricing premium.

Ilmenite Prices in Mozambique

Mozambican FOB prices averaged USD 282/MT in Q1 2026, up about 2.9% from Q4 2025, the first increase after a sharp four-quarter decline through 2025.

Why did the price of Ilmenite change in Q1 2026 in Mozambique?

Seller inventory levels, elevated through most of 2025 amid pricing indiscipline among competing producers, began easing entering the year. Stabilising downstream pigment prices provided the first signs of feedstock demand recovery. Freight conditions on African export routes remained steady.

Ilmenite Prices in India

Indian prices averaged USD 292/MT in Q1 2026, up about 2.5% from Q4 2025, tracking the broader regional stabilisation entering the year.

Why did the price of Ilmenite change in Q1 2026 in India?

Domestic construction-sector demand held steady entering the year, supporting pigment production runs. Landed costs from African and Australian suppliers began stabilising after a prolonged 2025 decline. Import volumes stayed consistent with prior-quarter levels.

Quarterly Ilmenite Price Trends

Global ilmenite prices declined sharply across 2025 before stabilising and turning modestly higher through H1 2026. The average opened near USD 403.75/MT in Q1 2025 and fell steadily to USD 380.50/MT in Q2, USD 356.25/MT in Q3, and USD 339.75/MT in Q4 2025, a full-year decline driven by weak downstream pigment demand and elevated seller inventory. The average then rose to USD 348.50/MT in Q1 2026 and USD 362.50/MT in Q2 2026, though it remained about 10.2% below the Q1 2025 starting level across the full six-quarter window. Trade-defense duties supporting pigment pricing in several export markets drove the 2026 recovery.

What was Ilmenite Price in 2025?

Ilmenite prices declined sharply across every tracked region in 2025, extending a downtrend from an elevated prior-year base. The global average opened near USD 403.75/MT in Q1 2025 and fell to USD 339.75/MT by Q4, a full-year decline of about 15.9%. Weak downstream titanium dioxide pigment demand from paints, coatings, and plastics manufacturers, elevated seller inventory, and pricing indiscipline among competing mineral sands producers were the primary forces that defined the year.

Ilmenite Prices in China in 2025

Chinese delivered prices fell from about USD 480/MT in Q1 2025 to USD 405/MT by Q4, a decline of roughly 15.6%. Weak downstream pigment and coatings demand, combined with elevated feedstock inventory among Chinese pigment producers, pressured the market lower through the year.

Ilmenite Prices in Australia in 2025

Australian FOB prices fell from about USD 460/MT in Q1 2025 to USD 395/MT by Q4, a decline of roughly 14.1%. Softening global pigment demand and ample competing supply pressured the market steadily lower through the year.

Ilmenite Prices in Mozambique in 2025

Mozambican FOB prices fell from about USD 345/MT in Q1 2025 to USD 274/MT by Q4, a decline of roughly 20.6%, the sharpest among the four tracked markets. Pricing indiscipline among competing mineral sands producers and elevated seller inventory drove the steep decline through the year.

Ilmenite Prices in India in 2025

Indian prices fell from about USD 330/MT in Q1 2025 to USD 285/MT by Q4, a decline of roughly 13.6%. Softer regional pigment demand and falling landed costs from African and Australian suppliers pulled the market lower through the year.

How We Can Help

Expert Market Research: Your Source for Real-Time Ilmenite Price Intelligence

Expert Market Research tracks ilmenite prices continuously across every major producing and consuming region. The team traces causation through titanium dioxide pigment demand cycles, Chinese pigment production capacity and import requirements, mine supply conditions across Australia, Mozambique, South Africa, and India, and downstream construction and housing-sector activity. Forecasts draw on pigment price trends, mine production data, and trade flow information across all reporting regions. Contact Expert Market Research today for ilmenite pricing data, bespoke market analysis, and strategic procurement advisory.