1、 Price trend
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Taking the sulfuric acid method rutile type titanium dioxide, which has a large volume of goods in the domestic market, as an example, according to data monitoring from Business Society, the domestic titanium dioxide market was downward in May. On May 1st, the average price of titanium dioxide was 17133.33 yuan/ton yuan/ton, and on May 29th, the average price of titanium dioxide was 16366.67 yuan/ton, a decrease of 4.47%.
2、 Market analysis
The domestic titanium dioxide market was weak and downward in May. Overall, the international export situation is still good, while the domestic terminal market is weak. In the first half of the year, there was a strong wait-and-see sentiment in the titanium dioxide market, with major manufacturers mostly observing the pricing policies of leading companies. Currently, stability is the main focus in various markets. In the middle of the month, the market transaction prices were relatively flexible, and orders slightly improved compared to the previous ten days. The demand for goods was mainly in demand, but overall, the performance remained weak. In the latter half of the year, although the cost pressure on manufacturers of titanium dioxide has eased to some extent, terminal demand has continued to be poor, and the market focus has shifted downwards. Manufacturers have lowered their external quotations. As of now, most domestic sulfuric acid based rutile titanium dioxide quotations are between 16000-16900 yuan/ton; The quotation for rutile titanium dioxide is around 14500-15300 yuan/ton; The quoted price for chlorinated titanium dioxide is 19200 yuan/ton. The actual transaction price is negotiable.
According to customs data, the import volume of titanium dioxide in China in April 2024 was 6771.35 tons, an increase of 22.15% year-on-year and a decrease of 35.29% month on month; In April, the import of titanium dioxide produced by sulfuric acid method reached 3019.91 tons, an increase of 26.30% compared to the previous month; In April, the import of titanium dioxide produced by chlorination was 3751.44 tons, a decrease of 53.53% compared to the previous month. From January to April 2024, China imported approximately 31100 tons of titanium dioxide, an increase of 66.12% compared to the same period last year, and the import volume increased by approximately 12400 tons.
In April 2024, China’s titanium dioxide exports reached 157400 tons, a decrease of 19.74% compared to the previous month and an increase of 22.15% compared to the same period last year; In April, the export of sulfuric acid based titanium dioxide reached 125200 tons, a decrease of 17.31% compared to the previous month; In April, the export of chlorinated titanium dioxide reached 32200 tons, a decrease of 27.97% compared to the previous month. From January to April 2024, China exported approximately 646900 tons of titanium dioxide, a year-on-year increase of 14.30%, and the export volume increased by approximately 80900 tons.
In terms of titanium concentrate, the market price of titanium concentrate in the Panxi region fell in May. The titanium ore market in Panxi region is in a weak and stable state, and the production of titanium ore is basically stable. Environmental inspection in Yunnan region shows that mining operations are still insufficient. However, downstream titanium dioxide enterprises have a weak market situation, with poor market demand. The sentiment of price pressure in the titanium concentrate market is strong, and the market is cautious in purchasing and observing. As of now, the tax-free quotation for 38-42 grade titanium ore is around 1550-1580 yuan/ton, the tax-free quotation for 46 grade 10 titanium concentrate is around 2240-2260 yuan/ton, and the quotation for 47 grade 20 titanium concentrate is around 2500-2630 yuan/ton. In the short term, the price of Panxi titanium concentrate may continue to operate weakly and steadily, and the specific actual transaction price will be negotiated separately.
According to customs data, in April 2024, China imported 328600 tons of titanium ore, a decrease of 5.09% year-on-year and 31.39% month on month, with a monthly average price of 333.09 US dollars per ton; From January to April 2024, China imported a total of approximately 1.5034 million tons of titanium ore, a year-on-year increase of 3.69%, and the import volume increased by approximately 53500 tons.
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In April 2024, China exported 6778.46 tons of titanium ore, an increase of 419.12% year-on-year and a decrease of 43.77% month on month; From January to April 2024, China exported approximately 21800 tons of titanium ore, an increase of 80.06% year-on-year, with an increase of approximately 9700 tons in export volume.
In terms of sulfuric acid, the domestic sulfuric acid market prices fell in May. According to monitoring data from Business Society, the average price of sulfuric acid in China was 272.5 yuan/ton on May 1st, and 247.5 yuan/ton on May 29th. The price fell by 9.17% during the month. Some maintenance enterprises in the early stage of sulfuric acid production have resumed, and the supply of sulfuric acid is sufficient. The downstream titanium dioxide market is weak, with significant cost pressure on enterprises. The demand for sulfuric acid has weakened, and the sulfuric acid market quotation has been lowered. The actual transaction price is mainly negotiated.
3、 Future Market Forecast
Business Society Titanium Dioxide Analyst believes that this month, the price of titanium concentrate in the Panxi region has decreased, the sulfuric acid market price has fallen, and the cost support for titanium dioxide has weakened. The downstream market demand continues to be weak, and the market trading situation is light. Transactions are cautious and cautious, and titanium dioxide enterprises are under greater pressure to ship. It is expected that the trend of titanium dioxide will be weak in the short term, depending on downstream market demand. The actual transaction price is negotiable.
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