SMM Analysis Of Titanium Dioxide In July And Forecast For August

According to SMM data, China's titanium dioxide production in July 2024 was 396,000 mt, with a MoM increase of 3.1%.

Due to the implementation of favorable policies in July and the boost in European demand, leading companies' orders on hand performed well. However, end-user demand remained weak. Some companies experienced a decline in shipments compared to the previous period, leading to increased market pressure. Despite high raw material costs, titanium dioxide market prices remained firm. Some companies conducted maintenance on their facilities, while most others returned to full-capacity production, resulting in a MoM increase of 3.1% in titanium dioxide production.

Due to limited market demand and continuous supply increase, some market participants remain pessimistic, and companies are generally observing market dynamics. However, considering the upcoming end of the overseas summer break in August, overseas demand may recover, and titanium dioxide companies are expected to resume full-capacity production after maintenance, with August production estimated to remain around 410,000 mt.