China Titanium Concentrate Imports in May Dropped 56% MoM

SHANGHAI, Jun 30 (SMM) - According to customs data, China's titanium concentrate imports in May 2022 stood at 210,000 mt, down 56% MoM and 9% YoY, while China's total titanium concentrate imports from January to May 2022 reached 1.47 million mt, down 9% YoY.

In details, the titanium concentrate imports from Mozambique stood at 65,000 mt in May, taking up 32% of China’s total imports in the month; Norway 37,000 mt, taking up 18%; Vietnam 30,000 mt, taking up 15%; the US 29,000 mt, taking up 14%; Australia 12,000 mt, taking up 6%; and India 12,000 mt, taking up 6% of the total.

Domestic titanium concentrate imports from January to May as a whole fell 9% year-on-year, of which the import volume fell more significantly in March. According to the foreign trade enterprises, because of tight shipping capacity at Mozambique port in that month, Kenmare Resources plc had to delay the delivery of concentrate.

Currently, the profits of dressing companies have been significantly squeezed amid high overseas titanium concentrate prices as well as tight domestic supply. Some mining enterprises in Shandong are challenged by strict environmental inspections, and have to cut or suspend the production. Considering the off-season in the titanium dioxide industry, downstream demand is generally weak, hence titanium concentrate lacks upward momentum. It is expected that the prices of titanium concentrate will remain stable in the near future.