Cost Increases, Relatively Small Inventory Pressure, and Export Growth YoY Multiple Titanium Dioxide Companies Announce Third Round of Price Hikes 【SMM Analysis】

SMM Analysis: Cost Increases, Relatively Small Inventory Pressure, and Export Growth Lead to Third Round of Price Hikes by Multiple TiO2 Producers Affected by high titanium concentrate prices and rising raw material costs such as sulphuric acid; from the supply perspective, TiO2 production saw a slight MoM decline in January and a slight MoM increase in February, with no significant growth in TiO2 supply. The inventory pressure for TiO2 producers remained relatively small. Additionally, there was a notable YoY increase in TiO2 exports in February. Influenced by these fundamental factors, multiple TiO2 producers including LB Group issued their third round of price adjustment letters for the year.