Exhibit 18.1


May 9, 2005


Board of Directors
Titanium Metals Corporation
1999 Broadway, Suite 4300
Denver, Colorado  80202

Dear Directors:

We are  providing  this letter to you for  inclusion  as an exhibit to your Form
10-Q filing pursuant to Item 601 of Regulation S-K.

We have been provided a copy of the Company's  Quarterly Report on Form 10-Q for
the period ended March 31, 2005. Note 1 therein describes a change in accounting
principle  from the LIFO cost method of  inventory  accounting  to the  specific
identification cost method for certain of the Company's  inventories.  It should
be understood that the preferability of one acceptable method of accounting over
another for inventory  accounting  has not been  addressed in any  authoritative
accounting literature, and in expressing our concurrence below we have relied on
management's   determination  that  this  change  in  accounting   principle  is
preferable.   Based  on  our  reading  of   management's   stated   reasons  and
justification for this change in accounting  principle in the Form 10-Q, and our
discussions  with  management as to their judgment  about the relevant  business
planning  factors  relating to the change,  we concur with  management that such
change represents, in the Company's circumstances,  the adoption of a preferable
accounting principle in conformity with Accounting  Principles Board Opinion No.
20.

We have not audited any  financial  statements  of the Company as of any date or
for any period  subsequent to December 31, 2004.  Accordingly,  our comments are
subject  to  change  upon  completion  of an audit of the  financial  statements
covering the period of the accounting change.

Very truly yours,

/s/ PricewaterhouseCoopers LLP
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PricewaterhouseCoopers LLP