1、 Price trend
Taking the sulfuric acid method gold red stone titanium dioxide with a large volume of goods in the domestic market as an example, according to data monitoring by Shengyi Society, the domestic titanium dioxide market fell in October. On October 1st, the average price of titanium dioxide was 15700 yuan/ton, and on October 29th, it was 15316.67 yuan/ton, with a price reduction of 2.44%.
2、 Market analysis
The domestic titanium dioxide market experienced a decline in October, with a light market trend. The price of raw material titanium concentrate continues to decline, and the price of sulfuric acid in domestic regions is fluctuating, with average cost support. The price of titanium dioxide was lowered in the first ten days. In the second half of the year, the overall market trend did not show substantial improvement, and there was significant pressure on the shipment of titanium dioxide. In addition, due to environmental inspections and other factors, some companies began to reduce or stop production. As of now, the domestic quotation for sulfuric acid method pyrite type titanium dioxide is mostly between 15000-16100 yuan/ton; The quotation for rutile titanium dioxide is around 14000 yuan/ton. The actual transaction price is negotiable.
According to customs data, the import volume of titanium dioxide in China in September 2024 was 8310.02 tons, a year-on-year increase of 22.62% and a month on month increase of 29.27%. From January to September 2024, China imported approximately 71500 tons of titanium dioxide, a year-on-year increase of 27.19% compared to last year, with an increase of approximately 15300 tons in import volume. In September, the import of sulfuric acid titanium dioxide was 3718.82 tons, a month on month increase of 42.97%. The cumulative import of sulfuric acid titanium dioxide from January to September was 23400 tons. In September, the import of chlorinated titanium dioxide was 4591.20 tons, an increase of 19.95% compared to the previous month. The cumulative import of chlorinated titanium dioxide from January to September was 48100 tons.
According to customs data, China’s titanium dioxide exports in September 2024 were 146800 tons, a decrease of 8.67% compared to the previous month and an increase of 1.23% compared to the same period last year. From January to September, China’s cumulative export of titanium dioxide was about 1.4397 million tons, a year-on-year increase of 14.76%, and the export volume increased by about 185100 tons. In September 2024, the export of sulfuric acid titanium dioxide was 119700 tons, a decrease of 10.82% compared to the previous month. The cumulative export of sulfuric acid titanium dioxide from January to September was 1177900 tons. In September 2024, the export of chlorinated titanium dioxide was 27000 tons, a month on month increase of 2.30%. The cumulative export of chlorinated titanium dioxide from January to September was 261700 tons.
In terms of titanium concentrate, the price of titanium concentrate continued to decline in October. At present, the spot prices in the market are relatively stagnant. Due to the impact of the central environmental protection team’s entry into Sichuan Province’s environmental protection inspection, the supply of titanium ore has decreased, and the quotes from beneficiation plants have remained firm. Downstream titanium dioxide enterprises have a weak market and are more cautious about titanium concentrate, with strong pressure on prices and cautious procurement. As of now, the price of 38-42 grade titanium ore without tax is around 1500-1550 yuan/ton, 46 grade 10 titanium concentrate without tax is around 2100-2150 yuan/ton, and 47 grade 20 titanium concentrate is around 2250-2350 yuan/ton. In the short term, the price of Panxi titanium concentrate continues to rise, and the specific transaction price will be discussed on a case by case basis.
According to customs data, China imported 267700 tons of titanium ore in September 2024, a year-on-year increase of 6.21% and a month on month decrease of 57.17%, with a monthly average price of $306.32 per ton; From January to September 2024, China imported approximately 3.5837 million tons of titanium ore, a year-on-year increase of 8.51%, with an increase of approximately 280900 tons in import volume.
In September 2024, China exported 5216.80 tons of titanium ore, a year-on-year increase of 738.71% and a month on month decrease of 17.40%; From January to September 2024, China’s cumulative export of titanium ore was about 57700 tons, an increase of 193.52% year-on-year, and the export volume increased by about 38000 tons.
3、 Future forecast
The titanium dioxide analyst from Shengyi Society believes that the price of titanium concentrate has declined this month, while the price of sulfuric acid has fluctuated, and the cost support is average. Downstream market demand remains weak, with a strong wait-and-see sentiment and low buying sentiment. It is expected that the titanium dioxide market will operate weakly and steadily in the short term, depending on downstream market demand. The actual transaction price will be negotiated on a case by case basis.
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