According to SMM, China's titanium dioxide production in June was 385,000 mt, down 4.7% MoM.
In June, as the titanium dioxide industry entered its traditional off-season, companies gradually slowed down their shipments, leading to significantly increased inventory pressure. Some titanium dioxide producers began to conduct maintenance due to the dual pressures of inventory and costs.
As the market chased an upward price movement and held back amid price downturn, downstream gradually slowed down the procurement pace. Currently, major producers have seen the inventory accumulation, with titanium dioxide companies holding a certain amount of stocks. Orders on hand temporarily supported the titanium dioxide prices to stay stable. However, downstream companies increasingly adopted a wait-and-see attitude, even delaying purchases, which may lead titanium dioxide companies to make concessions under inventory pressure. Given high costs, titanium dioxide companies opted for maintenance to alleviate inventory pressure. It is expected that titanium dioxide production in July will remain around 380,000 mt.
