Multiple Titanium Dioxide Companies Initiate Another Wave of Price Hikes, Titanium Dioxide Concept Strengthens, Lubei Chemical Hits the Limit Up [SMM Express]

Published: Mar 25, 2025 15:00

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SMM March 25 News: Driven by rising raw material costs such as titanium concentrate and sulphuric acid, low inventory levels among titanium dioxide producers, tight spot supply from some producers, and a significant YoY increase in titanium dioxide export data in February, LB Group and other titanium dioxide producers announced their third round of price increases this year. The titanium dioxide concept index continued its upward trend from the 24th, surging significantly on March 25. As of 14:06 on March 25, the titanium dioxide concept index rose by 3.53%. Among individual stocks, Lubei Chemical hit the limit up, Annada rose by 8.22%, and Huiyun Titanium rose by over 7%. Jinpu Titanium and CNNC Titanium were among the top gainers.

The average price of rutile titanium dioxide remains unchanged at 14,600 yuan/mt. View SMM titanium spot prices. Order and view SMM metal spot historical prices. According to SMM quotations, on March 25, the SMM rutile titanium dioxide price was quoted at 14,200-15,000 yuan/mt, with an average price of 14,600 yuan/mt, which has remained unchanged since February 17. This average price is up by 100 yuan/mt compared to the average price of 14,500 yuan/mt on December 31, 2024.

Currently, titanium concentrate prices are high, sulphuric acid prices continue to rise, and raw material costs for titanium dioxide are steadily increasing. Coupled with low inventory levels and tight spot supply from some titanium dioxide producers, export demand remains robust, giving titanium dioxide producers strong confidence in raising prices. However, downstream demand has not shown significant growth. According to past practices, after titanium dioxide producers announce price increases, it takes some time for the market to react and accept the new spot prices. SMM will continue to track the implementation of titanium dioxide price adjustment notices.

Looking ahead, since the beginning of 2025, in early January, influenced by significant increases in raw material costs such as sulphuric acid and titanium concentrate, leading titanium dioxide enterprises have kept their policy prices stable this month, and most titanium dioxide producers have maintained firm quotations. Additionally, nearly 40% of producers are in a state of production cuts or shutdowns, and existing producers are generally not operating at full capacity. The market widely expects overseas markets to stockpile before the holiday. As overseas markets enter the pre-holiday stockpiling period, the export market can still mitigate the impact of declining domestic demand. It is reported that some titanium dioxide producers are facing tight supply and have issued price adjustment notices, with domestic prices expected to increase by 300-500 yuan/mt by month-end. However, given the current sluggish market demand, whether the price adjustments will be implemented remains to be seen. Titanium dioxide prices will continue to be negotiated on a case-by-case basis, with the overall market showing a slightly weak but stable trend.

Recommended reading: Rising costs, tight spot supply, and strong exports drive multiple titanium dioxide producers to announce their third round of price increases [SMM Analysis].

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