Weak demand has led to increased inventory pressure, and the titanium dioxide market is operating under pressure [SMM Spot Titanium Report]

SMM reported on July 22 that today's rutile titanium dioxide (TiO₂) prices range from 11,500 to 12,000 yuan/mt, unchanged from the previous working day. Anatase TiO₂ prices range from 12,500 to 13,600 yuan/mt, also unchanged from the previous working day. Chloride-process TiO₂ prices range from 15,200 to 16,400 yuan/mt, down by 100 yuan/mt from the previous working day.

Currently, the TiO₂ market is under significant supply and demand pressure. Weak downstream demand has led to prominent inventory buildup issues for enterprises. To alleviate shipping pressure, major producers have covertly engaged in low-price sales promotions, triggering "rat race" competition within the industry, intensifying market competition, and resulting in a clear price war situation. From the perspective of supporting factors, leading enterprises in the ore sector have stabilized titanium ore prices by restricting the outward shipment of raw ore, providing support to the market. Meanwhile, sulphuric acid prices have continued to fluctuate upward, further strengthening the cost support for the TiO₂ market. These factors have collectively contributed to a solid cost support foundation for TiO₂ prices. Overall, despite the current market pressures such as weak demand and intense competition, with the support from the cost side, it is expected that the subsequent TiO₂ market will exhibit a weak and stable operation trend, with a low possibility of significant price declines.