A trend towards using more lightweight composite materials for building planes is also working to VSMPO's advantage, chief executive Mikhail Voevodin told Reuters.

"Since aluminium and steel corrode with composite material, titanium consumption is increasing sharply," he said.

VSMPO, which supplies 37% of the global aerospace industry's titanium needs, sees demand from that market growing 5-7%  a year to over 85,000 tonnes by 2018.