After LB Group and Huiyun Titanium announced price increases, on January 22, the leading manufacturer of titanium dioxide, CNNC Hua Yuan Titanium Dioxide, also disclosed that the company would increase the sales prices of all types of titanium dioxide starting from January 19, 2024. The sales price for domestic customers was increased by 500 yuan/ton, and the sales price for international customers was increased by US$100/ton.
According to SMM, since December 2023, foreign trade orders have performed well. The inventory pressure faced by titanium dioxide companies dropped sharply, and the production and sales of the titanium dioxide market have been balanced. In January 2024, some titanium dioxide companies arranged production orders, and titanium dioxide companies experienced shortages of some titanium dioxide models. The titanium dioxide market has started the first round of price increases of the year, and titanium dioxide prices have begun to rebound. As of last Friday, the mainstream market price of rutile titanium dioxide was 15,400-16,300 yuan/ton, an increase of 250 yuan/ton from the previous week; the mainstream market transaction price of anatase titanium dioxide was unchanged at 13,500-14,000 yuan/ton.
On the supply side, as the end of the year approaches, some titanium dioxide companies are preparing to start maintenance, and the shortage of some titanium dioxide models is difficult to change in the short term. In terms of demand, the titanium dioxide export market remains good, and export demand drives domestic trade. Titanium dioxide companies have brisk orders on hand, and some titanium dioxide companies have scheduled orders until March.
From a cost perspective, the supply of raw material titanium ore is tight and prices are rising at a high level. The mainstream market transaction price of domestic titanium concentrate (TiO2 ≥ 46%) is 2,200-2,220 yuan/ton, 10 yuan/ton higher than last Friday. Considering that the current supply of titanium dioxide exceeds demand, it is expected that the price of titanium dioxide will be strong in the future, and SMM will continue to pay attention to subsequent changes in spot transactions.
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