1、 Price trend
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 November. On November 1st, the average price of titanium dioxide was 17300 yuan/ton/ton, and on November 28th, the average price of titanium dioxide was 16650 yuan/ton, with a price reduction of 3.76%.
2、 Market analysis
The titanium dioxide market was weak and downward in November. Overall, the international foreign trade order situation is average, 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 mid month, the Shanghai International Coatings Exhibition kicked off, and the order situation improved, with companies scheduling delivery. In the latter half of the year, due to power and gas restrictions, downstream market operations declined, demand was weak, and new orders in the market were limited. The price adjustment of leading manufacturers has been reduced by thousands of yuan, and some manufacturers have followed up with price reductions. As of now, most domestic quotations for rutile type titanium dioxide are between 16000-17600 yuan/ton; The quotation for rutile titanium dioxide is around 14500-15000 yuan/ton. The actual transaction price is negotiable.
According to customs data, the import volume of titanium dioxide in China in October 2023 was 7802.13 tons, a month on month increase of 15.13% and a year-on-year increase of 138.77%; From January to October 2023, the cumulative import of titanium dioxide from China was about 64000 tons, a decrease of 42.05% compared to the same period last year, and the import volume decreased by about 46500 tons.
In October 2023, China’s titanium dioxide exports reached 118800 tons, a decrease of 18.02% compared to the previous month and a year-on-year increase of 19.95%; From January to October 2023, the cumulative export of titanium dioxide was about 1.3734 million tons, a year-on-year increase of 17.19%, and the export volume increased by about 20.15 million tons.
In terms of titanium concentrate, the market price of titanium concentrate in the Panxi region fluctuated slightly in November. With the decrease in raw ore supply and the shutdown of large factories. Low end market prices have slightly increased. The downstream titanium dioxide enterprises have a general market situation, with poor market demand. They are more cautious in purchasing and observe more. As of now, the tax-free quotation for grade 38-42 titanium concentrate is around 1460-1480 yuan/ton, the tax-free quotation for grade 46 10 titanium concentrate is around 2150-2200 yuan/ton, and the tax-free quotation for grade 47 20 titanium concentrate is around 2350-2480 yuan/ton. In the short term, the market price of titanium concentrate is mainly strong, and the actual transaction price is negotiable.
In October 2023, China’s titanium dioxide exports reached 118800 tons, a decrease of 18.02% compared to the previous month and a year-on-year increase of 19.95%; From January to October 2023, the cumulative export of titanium dioxide was about 1.3734 million tons, a year-on-year increase of 17.19%, and the export volume increased by about 20.15 million tons.
In terms of sulfuric acid, the domestic sulfuric acid market prices increased in November. According to data monitoring from Business Society, the average domestic sulfuric acid price on November 1st was 258 yuan/ton, and on November 28th it was 302 yuan/ton. The monthly price has increased by 17.06%. The downstream market for monoammonium phosphate has stabilized at a high level, and downstream customers have increased their enthusiasm for purchasing sulfuric acid. The upstream sulfur market has slightly increased, with good cost support. Business Society sulfuric acid analysts believe that in the short term, the domestic sulfuric acid market is mainly affected by supply and demand, raw materials, and other factors, and the price of sulfuric acid may fluctuate slightly and rise.
3、 Future Market Forecast
The titanium dioxide analyst from Business Society believes that the price of titanium concentrate in Panxi region has fluctuated slightly this month, and the sulfuric acid market price has risen. The cost support for titanium dioxide is still acceptable. However, the downstream market is weak, and the market trading situation is light. Transactions are cautious and cautious, and titanium dioxide companies 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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