Price trend

Taking the sulfuric acid rutile titanium dioxide with a large volume in the domestic market as an example, according to the data from SunSirs’ bulk list, the price of titanium dioxide has risen this week. The average price of domestic titanium dioxide at the end of last week was 16,000 RMB/ton, and the average price of this week’s weekend was 16,666.67 RMB/ton. The price rose within the week by 4.17%.

Analysis review

This week, the price of titanium dioxide was mainly high, and the price of new orders remained high. As of the 17th, the domestic ex-factory price of rutile titanium dioxide including tax was 16,300-17,000 RMB/ton, and the ex-factory price of anatase titanium dioxide including tax was 13,500-14,500 RMB/ton. At present, the export orders of enterprises have increased, and the foreign trade export market has maintained good growth. The domestic spot market is very tight, and the stockholders have a wait-and-see sentiment reluctant to sell, and prices are high.

In October 2020, China's titanium dioxide output was 322,900 tons, an increase of approximately 20,700 tons from September, a month-on-month increase of 6.85% and an increase of 17.57% year-on-year. The total output of titanium dioxide from January to October was about 2,839,200 tons, an increase of 9.57% year-on-year and an increase of 248,000 tons.

According to customs data, China exported about 110,200 tons of titanium dioxide in October 2020, a year-on-year increase of 38.84% and a month-on-month decrease of 1.43%. From January to October, the cumulative export was about 1.0005 million tons, a year-on-year increase of 21.88%. In October 2020, China imported about 16,600 tons of titanium dioxide, a year-on-year decrease of 8.88% and a month-on-month increase of 13.90%. From January to October, the cumulative import was about 139,800 tons, a year-on-year increase of 3.08%.

In terms of raw materials, the price of titanium concentrates in Panxi region remained stable this week, with some prices loosening slightly. Downstream buyers are under greater pressure and wait and see, and actual transactions are average. As to 17th, the price of 46,10 titanium ore from small and medium-sized manufacturers was 1,890-2,100 RMB/ton; the price of 47,20 ore was 2,050 RMB/ton, and the price of 38,42 ore excluding tax was 1,320-1,350 RMB/ton. Downstream cost pressure is high, procurement is more cautious, and titanium concentrate sales are under pressure. In the short term, stable prices of titanium concentrates are the main focus, and the actual transaction price will be discussed.

According to customs data, China imported 285,900 tons of titanium ore in October, a year-on-year increase of 5.73% and a month-on-month increase of 41.02%. From January to October, the cumulative import was about 2,460,800 tons, a year-on-year increase of 18.76%. China exported 567 tons of titanium ore in October, a year-on-year decrease of 77.64% and a month-on-month decrease of 75.79%. From January to October, the cumulative exports were about 19,048 tons, a decrease of 3.67% year-on-year.

Market outlook

The Titanium Dioxide Analyst of SunSirs believes that the price of titanium dioxide is currently at a high level, and the cost of titanium dioxide is a strong support for the price of titanium dioxide. In terms of demand, the export of titanium dioxide maintains a good growth, and the overall inventory of manufacturers is low. Domestic spot is relatively tight and prices are high. It is expected that the spot market of titanium dioxide will continue to be strong in the short term, and the actual transaction price will be discussed.

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