1、 Price trend

Taking the sulfuric acid method gold red stone type titanium dioxide with a large volume of goods in the domestic market as an example, according to data monitoring by Business Society, the overall domestic titanium dioxide market remained stable in July, with an average price of 15783.33 yuan/ton yuan/ton.

2、 Market analysis

In July, the domestic titanium dioxide market remained stable overall, with little upward fluctuation in market prices. In the first half of the year, the price of raw material titanium concentrate continued to rise, while the price of sulfuric acid remained high and firm. Some companies’ maintenance plans were delayed until August, and the market price of titanium dioxide remained stable. In the middle of the month, due to production restrictions and shutdowns by some titanium dioxide companies, there was a slight increase in the prices of scarce brand sources within the field, and manufacturers’ quotations were mainly stable. In the latter half of the year, some maintenance companies resumed production one after another, and Longqi implemented preferential policies for distributors. Most manufacturers’ quotations were mainly stable. As of now, the domestic quotation for sulfuric acid method pyrite type titanium dioxide is mostly between 15300-16200 yuan/ton; The quotation for rutile titanium dioxide is mostly around 14500-15000 yuan/ton. The actual transaction price is negotiable.

According to customs data, China’s titanium dioxide exports in June 2024 were 176400 tons, an increase of 18.14% compared to the previous year and a year-on-year increase of 40.42%; Among them, the export of sulfuric acid titanium dioxide in June was 146900 tons, a month on month increase of 16.31%. The cumulative export of sulfuric acid titanium dioxide from January to June was 789800 tons; In June, the export of chlorinated titanium dioxide was 29500 tons, a month on month increase of 28.17%. The cumulative export of chlorinated titanium dioxide from January to June was 182800 tons.

In June 2024, the import volume of titanium dioxide in China was 7547.60 tons, a year-on-year increase of 6.54% and a month on month decrease of 16.90%; Among them, the import of sulfuric acid titanium dioxide in June was 2961.09 tons, a month on month increase of 34.93%. The cumulative import of sulfuric acid titanium dioxide from January to June was 14000 tons; In June, the import of chlorinated titanium dioxide was 4586.50 tons, a decrease of 33.41% compared to the previous month. The cumulative import of chlorinated titanium dioxide from January to June was 33700 tons.

In terms of titanium concentrate, the market price of titanium concentrate in the Panxi region remained strong and upward in July. At present, the spot market is tight, and the price of titanium ore is running at a high level. Downstream titanium dioxide enterprises are generally in the market, and they are more cautious about titanium concentrate, with a focus on urgent needs and cautious procurement. As of now, the price of 38-42 grade titanium ore without tax is around 1600-1630 yuan/ton, the price of 46 grade 10 titanium concentrate without tax is around 2260-2300 yuan/ton, and the price of 47 grade 20 titanium concentrate is around 2500-2630 yuan/ton. In the short term, the price of Panxi titanium concentrate continues to operate at a high level, and the specific transaction price will be discussed on a case by case basis.

According to customs data, China exported 9133.48 tons of titanium ore in June 2024, a year-on-year increase of 184.55% and a month on month decrease of 31.44%; From January to June 2024, China’s cumulative export of titanium ore was about 44300 tons, an increase of 163.45% year-on-year, and the export volume increased by about 25500 tons.

In June 2024, China imported 301600 tons of titanium ore, a year-on-year decrease of 5.07% and a month on month decrease of 28.51%. The monthly average price was $284.51 per ton; From January to June 2024, China imported approximately 222.70 tons of titanium ore, a year-on-year increase of 2.14%, with an increase of approximately 46800 tons in import volume.

3、 Future forecast

The titanium dioxide analyst from Shengyi Society believes that the price of titanium concentrate has continued to rise this month, while the price of sulfuric acid remains high and strong, providing strong cost support. However, downstream market demand remains weak, and the pressure on titanium dioxide companies to ship remains high, with both supply and demand sides in a stalemate. It is expected that the titanium dioxide market will remain stagnant in the short term, depending on downstream market demand, and the actual transaction price will be negotiated on a case by case basis.