Potential disruption to Russian merchandise exports has brought titanium, a metal used in the aerospace, marine, and automotive industries, into focus, according to a related website. After the Russian-Ukrainian military conflict, the United States and Europe imposed financial sanctions on Russian banks, individuals, and other entities. Sanctions have yet to be imposed on Russian goods exporters such as VSMPO-Avisma, which supplies titanium to aircraft makers such as Boeing and Airbus.
However, the Western Union's removal of some Russian banks from the System for International Settlement of Funds (SWIFT) could affect the country's export supply of goods, and could also suspend the movement of containers into and out of Russia.
Who imports titanium?
According to the British Commodity Research Institute (CRU), China was the largest importer of titanium sponges last year, and the import volume increased from 6,000 tons in 2020 to more than 16,000 tons.
What is the use of titanium?
In the aerospace industry, titanium is used to make landing gear, blades, and turbine disks. In the marine industry, titanium sheets are used to make ships and submarines. In the automotive sector, it is used in internal combustion engine components.
In chemical processing, titanium can prevent fatigue and crack. In e-cigarettes, titanium wire is used to improve safety and control issues. In sports, titanium is used to make golf club heads.
In the medical industry, titanium is also used in joint replacements and dental implants because its density is similar to that of human bone.
