SMM Analysis on China November Titanium Dioxide Production and December Forecast

According to SMM data, China's titanium dioxide production in November 2024 saw a slight decrease MoM.

In early November, the price reduction of titanium dioxide led downstream enterprises to become more cautious in taking orders, resulting in a strong wait-and-see sentiment. With the effects of anti-dumping duties, some export orders were temporarily delayed, leading to a rise in producers' inventory. Consequently, domestic production of titanium dioxide in November experienced a slight decline.

In early December, due to a significant increase in sulphuric acid costs, leading enterprises maintained stable policy prices this month, and most titanium dioxide producers also kept their quotations firm. Additionally, nearly 40% of enterprises were in a state of production reduction or suspension, and the existing producers generally do not operate at full capacity. The market generally expects overseas markets to stockpile before the holidays, and the CHINACOAT also brought some anticipation to the market. Therefore, market sentiment slightly improved, and SMM forecasts for December that domestic titanium dioxide production will remain around 8,000 mt.