{"id":11232,"date":"2023-09-13T15:35:01","date_gmt":"2023-09-13T15:35:01","guid":{"rendered":"https:\/\/prosfunds.com\/markets\/stocks\/chinese-titanium-producers-expect-boost-from-new-iphone\/"},"modified":"2023-09-13T15:35:02","modified_gmt":"2023-09-13T15:35:02","slug":"chinese-titanium-producers-expect-boost-from-new-iphone","status":"publish","type":"post","link":"https:\/\/prosfunds.com\/?p=11232","title":{"rendered":"Chinese titanium producers expect boost from new iPhone"},"content":{"rendered":"
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\u00a9 Reuters. An Apple logo is pictured outside an Apple store in Lille, France, September 13, 2023. REUTERS\/Stephanie Lecocq<\/span>
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BEIJING (Reuters) – China’s titanium producers said on Wednesday they expect stronger demand for the lightweight metal after the launch of a new model of Apple (NASDAQ:)’s iPhone with a titanium shell.<\/p>\n

Production of the new Apple iPhone 15 Pro, unveiled on Tuesday, will lift demand for titanium by between 3% and 4% this year, or by as much as 10,000 tons, said Zhao Wei, information director at the Titanium Zirconium Hafnium branch of the China Nonferrous Metals Industry Association (CNIA).<\/p>\n

China accounts for more than 60% of the 240,000 metric tons of titanium and titanium alloys produced globally each year, according to the CNIA. <\/p>\n

Apple’s use of titanium, rather than a stainless steel shell, could trigger additional demand too, with other companies likely to follow its lead, Zhao and other market participants said.<\/p>\n

“Following Apple’s lead, there will be other brands starting to use titanium alloys in their products, creating a bright spot for demand growth of the metal,” said Zhao.<\/p>\n

China is also the biggest producer of iPhones, with global shipments made by Foxconn from a huge factory in central China.<\/p>\n

About 40% of titanium is currently used in the chemicals sector and more than 30% in aerospace. The electronics sector accounts for less than 10% of demand, estimated Zhao, but has strong potential for growth.<\/p>\n

Titanium has already been used in small volumes in Apple watches, but a contract to supply production of the new iPhone model is significantly larger than before, said a supplier who declined to be identified citing confidentiality.<\/p>\n

A consumer product “monster” such as the iPhone would help bring wider adoption of titanium in new industries, replacing materials like stainless steel, he added. <\/p>\n

The titanium shell on the new iPhone is made with an alloy known as Grade 5 Titanium that also contains small amounts of aluminium and vanadium, according to three Chinese titanium producers. <\/p>\n

The alloy is known for excellent corrosion resistance, light weight and strength but cannot be produced by all suppliers, said Zhao.<\/p>\n

“There’s a technical barrier to produce titanium alloys and international enterprises such as Apple require high standards. So we won’t see the market crowded with newcomers,” he said. <\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. An Apple logo is pictured outside an Apple store in Lille, France, September 13, 2023. REUTERS\/Stephanie Lecocq BEIJING (Reuters) – China’s titanium producers said on Wednesday they expect stronger demand for the lightweight metal after the launch of a new model of Apple (NASDAQ:)’s iPhone with a titanium shell. Production of the new […]<\/p>\n","protected":false},"author":1,"featured_media":10557,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[37],"tags":[],"class_list":{"0":"post-11232","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-stocks"},"yoast_head":"\nChinese titanium producers expect boost from new iPhone | Prosfunds<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. An Apple logo is pictured outside an Apple store in Lille, France, September 13, 2023. 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