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Titanium is mined as its ore, titanium oxide. Titanium metal is produced in the presense of iron, such that "titanium" is actually an alloy of iron and titanium called ferro-titanium. The relative amount of titanium in the alloy is given as a number in the name of the alloy: the current standard for ferro-titanium is Ti70, comprising at least 70% titanium. According to MetalFirst.Com, the cost of a kilogram of Ti70 is around $4.20 (that's about $1.90 per pound).
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