That's only one portion of the cost. Doesn't explain why the price of Ti consumer-goods have dropped to 1/5th of what it used to be decades ago. Especially with the exponential rise in the oil & electricy that runs the mills and welders. You have to consider all the steps along the way and the final-steps are typically what makes up the majority of the retail-costs, not the initial ones.

Also doesn't explain why Russian Ti has not changed much in pricing in the past 20-years, while the U.S. has dropped by significant amounts.

I worked on a project for Vandenberg once where my company provided them with a 4-legged natural-material picnic table and 2 bench-seats for an observation area overlooking one of the launch-pads. What started out as several $200 sets of tables from OSH was finally delivered for $14,000 with minimal profit-margin.