Titanium Dioxide Industry Perspective Weekly-2024-11-08 to 2024-11-15

Market Report

1. Titanium Dioxide (TiO2) Market Analysis

• The market for titanium ore (ilmenite) is experiencing weakness, with prices of small and medium manufacturers around $283-$288 per ton (converted from 2040-2080 yuan/ton using the exchange rate of 7.21640), and 38% titanium ore (excluding tax) priced at around $205-$212 per ton (converted from 1480-1530 yuan/ton).
• Prices for imported titanium ore remain steady. Mozambique titanium ore is priced at approximately $368 per ton, while Kenyan 47%-49% grade ore is priced at about $362 per ton. Despite high domestic ore prices, demand for imported ore is subdued, and the market remains largely in a wait-and-see state.
• The titanium slag market is weak, with 90% low calcium and high titanium slag priced around $935 per ton (converted from 6750 yuan/ton). High production costs and weak downstream demand continue to pressure the market.

2. Titanium Dioxide Pigment Market Trends

• The titanium dioxide pigment market remains weak. Current prices for Chinese rutile titanium dioxide are around $2112-$2180 per ton, and anatase titanium dioxide is around $1967-$2022 per ton.
• Due to weak market demand, large inventory pressures, and environmental constraints, some top manufacturers have lowered their prices. The LB Group is one such manufacturer that has adjusted its guiding prices downwards.
• The international market is also challenging due to anti-dumping investigations from the EU, India, and Brazil, leading to increased pressure on exports and causing some enterprises to reduce their export orders.

3. Market Forecast

• Downstream demand for titanium dioxide is expected to remain weak, leading to continued pressure on prices.
• The titanium dioxide market is in its off-season, which will likely result in stable to weaker pricing.
• Cost pressures on titanium dioxide production remain high, limiting the potential for significant price reductions.

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