Titanium Dioxide Industry Perspective Weekly-2024-09-20 to 2024-09-27

Market Report

1. Titanium Dioxide (TiO2) Market Analysis

• The market for titanium ore (ilmenite) has been weak, with prices for small and medium manufacturers around $311-$314 per ton, and 38-grade titanium ore (excluding tax) around $224-$231 per ton.
• Imported titanium ore prices remain steady, with Mozambique titanium ore priced at around $368 per ton and Kenyan 47%-49% grade ore priced at around $362 per ton. The supply of imported titanium ore remains tight, and domestic signing is cautious.
• The high titanium slag market is weak, with prices around $831-$839 per ton. Production costs are high, and enterprises are running at a loss, leading to reduced production and weak market conditions.
• Titanium tetrachloride prices are stable at around $857-$914 per ton. The price of liquid chlorine is fluctuating, and high raw material prices are putting production pressure on titanium tetrachloride manufacturers.

2. Titanium Dioxide Pigment Market Trends

• The titanium dioxide pigment market remains weak and stable. Current prices for Chinese rutile titanium dioxide are around $2162-$2302 per ton, and anatase titanium dioxide is around $2049-$2104 per ton.
• With order volumes decreasing, some enterprises are experiencing inventory increases. As the holiday approaches, there is slight stocking in the downstream market, but overall demand remains weak. Some enterprises have temporarily halted production due to environmental and maintenance reasons, leading to a slight decrease in titanium dioxide production.
• The market remains competitive, and downstream procurement is cautious due to high costs. The mainstream prices of titanium dioxide are stable, with some prices negotiated on a case-by-case basis.

3. Market Forecast

• After a brief period of market activity in the first half of this month, the market has returned to silence. Demand has been below expectations, the supply side is under significant cost pressure, and inventory has not yet bottomed out, indicating that weakness may persist. However, on the capital side, the purchasing power of the US dollar continues to decline, while the Chinese yuan has rebounded strongly. In summary, transaction prices denominated in US dollars will continue to rise slightly due to exchange rate fluctuations.
• As the US dollar continues to weaken, the purchasing power of the global southern markets will continue to strengthen. With the peak demand season gradually approaching, the overall market price is likely to continue its slow upward trend.
• There is an imbalance in the supply and demand of sponge titanium, and prices are expected to remain weak.

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