The second largest world producer of titanium — the Japanese Osaka Titanium Technologies Co. — From April 1, 2010 reduces the metal prices in the Japanese market by 15−25%, reports Bloomberg.

This decision was taken due to the weakening demand from large companies — many of them have postponed the implementation of projects on construction of new enterprises in connection with the global financial crisis.

According to the Osaka Titanium Nishizawa Shoji, utilization of production capacity of the company in the next fiscal year will amount to 53% compared to 45% this year.

He also added that the export prices for titanium, are likely to be reduced by 10−20% in 2010, and in 2011 the increase in demand will lead to higher prices for the metal in both the domestic and the export market.