Titanium ore prices remain firm, putting pressure on the downstream titanium dioxide market [SMM Titanium Spot Cargo Report]

SMM reported on July 3 that today's market quotes for rutile titanium dioxide are 13,000-14,300 yuan/mt, while those for anatase titanium dioxide are 12,000-12,800 yuan/mt, unchanged from the previous working day.

Currently, the titanium ore market exhibits a typical pattern of weak supply and demand. On the supply side, major mines in the Panxi region are controlling the outward shipment of raw ore, and beneficiation plants are facing the dilemma of "high-priced raw materials eroding profits," forcing some small and medium-sized beneficiation plants to reduce their operating rates to below 60%. On the demand side, as the main downstream industry, the titanium dioxide sector continues to experience sluggish demand from its end markets of paints and plastics. The price of sulphuric acid-process titanium dioxide has fallen to 13,500 yuan/mt, and there is a clear "tug-of-war between longs and shorts" in market sentiment. Miners are maintaining firm quotes based on the logic of supply-side contraction, with some traders even holding back from selling. Downstream enterprises, on the other hand, are resisting price increases by extending procurement cycles and seeking alternative ore sources. This stalemate is expected to persist until the end of Q3, when a new supply-demand balance point emerges.

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