TiO2 market review of June 2022

TiO2 market review of June 2022

1 Titanium Market Analysis

1.1. Market price analysis of titanium series

In June, the transaction price of Panxi Titanium Mine rose steadily. The cumulative increase of 46,10 mines was 30-50 yuan/ton, and the price of 38,42 mines rose by 30 yuan/ton at the end of the month. The prices of major manufacturers remained stable. So far ,
The price of Panxi Dachang 47,20 titanium ore is 2400-2450 yuan/ton, the transaction price of small and medium 46,10 titanium ore is about 2160-2200 yuan/ton, and the price of 38,42 ore excluding tax is 1530-1580 yuan/ton. There are three main reasons for the increase in market prices: 1. The cost of raw ore is high, and the cost pressure of small and medium-sized factories is relatively large, and the enterprises are not operating enough; 2. The iron ore market is sluggish, and the supply of medium-sized mines is tight; The market has seen a lot of destocking of 10 mines, and the transaction price has risen slightly. At present, the overall demand for titanium ore is relatively stable, and some enterprises are still under-operated, and the supply of large enterprises in Xichang is still tight. As the titanium dioxide market enters the off-season, the cost pressure of enterprises Large, coupled with weak terminal demand, titanium ore prices are not expected to rise significantly.

Imported titanium ore prices remained stable, and market quotations remained firm. Up to now, the price of Australia 50 titanium ore is 460 US dollars / ton, the Kenmare 50 titanium ore price is 480 US dollars / ton, Kenya 47-49 ore is temporarily not quoting, and Vietnam imported ore is not temporarily quoting; downstream titanium dioxide and titanium slag market capacity Continued release, stable market demand, but the price of imported ore is high, the cost pressure of enterprises is relatively large, and the high-priced orders are under pressure; according to customs statistics, imported titanium ore in May was 205,400 tons, a year-on-year decrease of 9.41%. In May, China imported about 1.4676 million tons of titanium ore, a year-on-year decrease of 9.46%. This year, the mainstream importing countries have declined severely, and domestic supply is still tight. In addition, in the second half of the year, there will be new production capacity released by the chlorination method, and the price of imported titanium ore will also continue. run high.

The price of titanium slag
in the acid slag market fell sharply in June. As of now, the ex-factory price including tax in Sichuan is 5,600 yuan/ton, and the ex-factory price in Yunnan is 5,000-5,550 yuan/ton. The downstream titanium dioxide market continues to be weak, and is affected by the Panxi part Influenced by the conversion of slag from manufacturers to mines, the demand for acid slag has decreased, enterprises are under great pressure on shipments, and prices have fallen; manufacturers’ inventories have increased, and companies have been under great pressure.

The high-slag market remains stable. 6 The bidding price of ordinary high-slag in the north is 10,400 yuan/ton, and the bidding price of low-calcium-magnesium high-slag is 11,000 yuan/ton. The bidding in July will start soon, and the price is expected to be the same as last month. The market is running well, companies in the north are actively working, and some companies in the south are converting acid residues to high-slag production, and the market supply has increased; the downstream market demand is stable. Multi-dimensional stable operation.

The price of titanium tetrachloride
maintained stable operation this month. The market quotation of titanium tetrachloride was 8700-9100 yuan/ton; the price of raw materials was high, the cost of titanium tetrachloride increased, and the market demand was relatively stable. The overall titanium tetrachloride market Relatively stable; while the downstream titanium sponge market is running well, and the price remains stable, the price of titanium tetrachloride is expected to continue to run steadily.

Titanium Dioxide
The titanium dioxide market in June was relatively chaotic, and the quotations of manufacturers were reduced by different degrees, and the price was reduced to 800-1200 yuan/ton. The ex-factory price of anatase titanium dioxide including tax is 17500-18500 yuan / ton; in June, the price of dragon enterprises remained stable, and the rebate discount did not change compared with the previous period. Influenced by other factors, the market economy is not good, the demand in East China and other regions has been greatly reduced, and enterprises are under great pressure to ship goods; the export market has remained stable in the past two months, but the domestic sales market is still weak, the competition pressure of enterprises is large, and market prices are running chaotically; raw material prices High, some low prices are on the verge of loss, and market competition is under great pressure. At the end of the month, the prices of individual companies have been lowered again, and the market has entered a traditional off-season. In July, market prices will continue to run weakly.

Sponge titanium
The sponge titanium market performed well in June. At present, the first-grade sponge titanium market price is 74,000-85,000 yuan / ton. The price of raw magnesium ingots continues to fall. The pressure on semi-process enterprises has eased, and enterprises have gradually resumed construction; domestic and foreign market demand Continued to be strong, the export market for civilian products has increased significantly, the inventory of sponge titanium manufacturers will remain low, the new production capacity in the market will continue to be released, the market supply will increase, and the price of sponge titanium will continue to be high.

July market forecast:

  1. The demand for titanium ore is stable, the market supply is tight, and the price may rise slightly;
  2. The titanium dioxide market has entered the off-season, the demand is still weak, and the market will continue to operate weakly;
  3. The market demand for sponge titanium increases, the market supply is stable, and the market price runs smoothly.

1.2 Import and Export

Titanium ore
China imported 205,400 tons of titanium ore in May 2022, with a monthly average price of US$422/ton, a year-on-year decrease of 9.41% and a month-on-month decrease of 56.06%; the top three countries in terms of import volume in May are: Mozambique, Norway, Vietnam; 2022 From January to May of this year, China imported about 1.4676 million tons of titanium ore, a year-on-year decrease of 9.46%, and the import volume decreased by about 153,400 tons.

Titanium Dioxide
China imported about 15,000 tons of titanium dioxide in May 2022, a year-on-year decrease of 5.06% and a month-on-month decrease of 2.57%; the top three imported regions in May were Taiwan, Mexico, and Australia; the cumulative import volume of titanium dioxide from January to May 2022 About 67,100 tons, a decrease of 17.17% compared with the same period last year, and the import volume decreased by about 13,900 tons.

According to customs data, China’s titanium dioxide exports in May 2022 will be about 115,700 tons, a year-on-year increase of 10.31% and a month-on-month decrease of 2.48%; the top three countries in terms of titanium dioxide exports in May are: India, Vietnam, and South Korea; January-May 2022 The cumulative export volume of titanium dioxide in the month was about 622,300 tons, a year-on-year increase of 15.24%, and the export volume increased by about 82,300 tons.

Titanium sponge
In May 2022, the import of titanium sponge was about 1357.4 tons, an increase of 55.56% year-on-year and a month-on-month increase of 23.26%; from January to May 2022, the cumulative import volume of titanium sponge in China was about 6548.9 tons, an increase of 66.37% year-on-year, and the import volume increased by about 2612.6 Ton.

In May 2022, China’s export of titanium sponge was about 256.8 tons, a year-on-year increase of 98.87% and a month-on-month decrease of 25.40 %; the cumulative export from January to May 2022 was about 748.2 tons, an increase of 45.71% year-on-year, and the import volume increased by about 234.72 tons.

2 Production of titanium dioxide and titanium sponge in May

2.1 Yield Analysis:
According to Tu Duoduo’s statistics, in May 2022, China’s titanium dioxide output was 344,100 tons, a month-on-month increase of 2.28% and a year-on-year increase of 4.49%; Production increased by about 135,800 tons. In May, the regional output increased and decreased. Due to the overhaul of some devices and the influence of inventory pressure, the production of enterprises decreased. In May, some enterprises completed the maintenance, the output increased, and the overall output increased slightly.

The top three regions in May output were Sichuan, Henan, and Shandong, accounting for 21%, 15%, and 14% of the total output.

According to Tu Duoduo’s statistics, China’s titanium sponge output in May 2022 was 12,500 tons, a year-on-year increase of 0.24%. The output of titanium sponge in April 2022 increased by 9.65%. In May, China’s titanium sponge production maintained a steady and moderate growth trend. In June, semi-process titanium sponge enterprises Shengfeng Titanium Industry and Anshan Massive Plant will resume production. The production capacity of each enterprise will gradually be released, and the output of sponge titanium will reach a new record high.

In May, Liaoning, Xinjiang, and Henan, the top three domestic production areas of titanium sponge in China, accounted for 23%, 19% and 15% of the total domestic output respectively.

3 Industry News of the Month

“Invest 1 billion! The 500,000-ton paint project was officially put into production! 》
The first phase of the Jiangxi Tulian Waterborne Coatings Industrial Base Project invested and constructed by Jiangxi Tulian Group, the Yaka architectural paint production workshop in the first phase was completed and put into production recently. The project started construction on July 10, 2020, with a total area of ​​500 acres, of which: the first phase of the project covers an area of ​​300 acres and a total construction area of ​​230,000 square meters.

The total investment of the project is 1 billion yuan. It is designed to produce 500,000 tons of water-based environmental protection coatings, 200,000 tons of dry powder putty, 20 million square meters of polymer waterproof materials, 1 million square meters of thermal insulation and decoration integrated boards, and 50,000 tons of annual output. The construction emulsion and the annual output of 200,000 sets of coating packaging materials are expected to achieve an annual sales income of more than 1.5 billion yuan and an annual tax revenue of more than 45 million yuan after the project is completed.

“Anning Shares: At present, the company is going all out to promote the energy titanium project”
Anning Shares (002978.SZ) stated on the investor interaction platform on May 30 that the company’s fundamentals are good, cash flow is sufficient, and the asset-liability ratio is low. The company will always adhere to the prudent and stable business philosophy and adopt the strategy of “implementation in stages and dynamic adjustment”. At present, the company is going all out to promote the energy titanium project.

“China Nuclear Titanium Dioxide: Acquiring 50% Equity of China Nuclear Times with its Own Funds”
China Nuclear Titanium Dioxide (002145) (002145.SZ) issued an announcement on June 7, the company transferred its own funds of 977,900 yuan to Times Yongfu Technology Co., Ltd. Some have a 50% stake in Baiyin China Nuclear Times New Energy Co., Ltd. (hereinafter referred to as “China Nuclear Times”). After the completion of this transaction, the company holds 100% of the equity of China Nuclear Times, and China Nuclear Times has become a wholly-owned subsidiary of the company.

Previously, in order to better implement the new requirements of the “dual carbon” goal and build a new green and circular economy, CNNC Titanium Dioxide and Times Yongfu signed the “Shareholders Agreement on the Establishment of a Joint Venture” on May 27, 2021. In the nuclear era, to promote the investment, construction and operation of comprehensive smart new energy projects such as photovoltaics, wind power, and energy storage. Among them, CNNC Titanium Dioxide and Times Yongfu subscribed for 50 million yuan respectively, each accounting for 50% of the registered capital of CNNC Times.

“Longbai Group develops efficiently and does a good job in extending, supplementing and strengthening the chain”
Longbai Group is in a period of rapid development. Since its successful listing in July 2011, the company has made two private placements, implemented equity incentives and employee stock ownership plans twice, and gave full play to its capital market advantages. In ten years, it has invested nearly 40 billion yuan in total. In project construction investment, product technology innovation and mergers and acquisitions, to help the rapid development of enterprises. Jiaozuo Park has built a 250,000-ton/year sulfuric acid method titanium dioxide production line and a 400,000-ton/year chloride method titanium dioxide production line, and implemented technological transformation and expansion. For the first time in 2021, the revenue will exceed 10 billion yuan; In the year of merger and acquisition, the production was resumed and the profit was made in the same year. At present, the production lines of chlorinated titanium dioxide and titanium sponge are in stable production, and the technological transformation and expansion are also progressing steadily. The company’s raw material base, the group will also make great efforts to increase investment, and spare no effort to carry out the investment and construction of extension chain and supplementary chain deep processing projects. In recent years, the average annual investment of the Group’s bases is about 4 billion to 5 billion yuan.

“Huiyun Titanium Industry Plans to Establish Three Subsidiaries to Expand Main Business Operations”
Huiyun Titanium Industry (300891) (300891.SZ) issued an announcement that in order to meet the needs of expanding main business operations and enhancing market competitiveness, the company plans to invest 10 million yuan (100% of the registered capital), establish a wholly-owned subsidiary Yunfu Huiyun Calcium Industry Co., Ltd.; plan to invest 10 million yuan (100% of the registered capital) to establish a wholly-owned subsidiary Yunfu Huiyun New Materials Co., Ltd.; It is proposed to invest 12 million yuan (60% of the registered capital); Yao Chuan, a natural person, will invest 8 million yuan (40% of the registered capital) to jointly establish a holding subsidiary Sichuan Yanyan Mining Co., Ltd.

The investment in the establishment of Huiyun Calcium Industry is mainly to produce calcium oxide to meet the needs of the company’s titanium dioxide production facilities and surrounding steel, chemical, environmental protection and other enterprises. The company invested in the establishment of Huiyun New Materials, under the background of the national “carbon peak” and “carbon neutral” policies and the rapid development of new energy technology, the company will use by-product waste acid, ferrous sulfate, etc. as iron phosphate. Produce raw materials, cut into the new energy iron phosphate industry, and realize the coupling of the titanium industry chain and the new energy industry chain. The investment in the establishment of Yanyan Mining is due to the intention of both parties to use their respective expertise and competitive advantages to jointly expand, integrate advantageous resources, and expand and strengthen related businesses, which is conducive to enhancing the company’s core competitiveness.

“Anning Shares: Bidding to Acquire 2.776% Equity of Chongqing Iron and Steel Xichang Mining”
Anning Co., Ltd. (002978) announced on the evening of June 22 that the company bid to obtain 2.776% equity of Chongqing Iron and Steel Xichang Mining Co., Ltd., and the final price was 140 million yuan. The target enterprise is one of the large vanadium-titanium magnetite mining and dressing enterprises in the Panxi region. The target enterprise completed and put into production in 2012 the mining and dressing scale of 3 million tons per year, and is currently actively applying for the mining right certificate of 10 million tons per year.

“Panshan Iron and Steel Vanadium and Titanium: The Company’s Comprehensive Energy Consumption of Titanium Dioxide Meets National Standards”
Panzhihua Iron and Steel Vanadium and Titanium (000629.SZ) stated on the investor interaction platform on June 21 that the company’s “2021 Panzhihua Iron and Steel Vanadium and Titanium ESG Report” comprehensively includes titanium dioxide The energy consumption of 1091.70Kgce/t refers to the value of titanium dioxide by sulfuric acid method. According to the “Energy Consumption Limit of Titanium Dioxide Per Unit Product”, the comprehensive energy consumption of titanium dioxide of the company conforms to the national standard.


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