Titanium Market Price Analysis This Week
The titanium dioxide industry has recently staged a familiar "price hike drama."
Led by industry leaders, over ten manufacturers have intensively issued price adjustment notices, announcing increases ranging from 500 to 1,000 yuan per ton. Sales representatives are enthusiastically sharing the news on social media, creating an impression that a market recovery is just around the corner. However, when shifting focus to downstream end-user factories in sectors such as coatings and plastics, a completely different picture emerges: a strong wait-and-see sentiment prevails, procurement remains largely need-based, and actual transaction prices even show a "price inversion" trend-nominally stable but covertly declining.
Titanium Ore
The titanium ore market operated steadily overall this week. As of now, the mainstream transaction price for 46%, 10-grade titanium concentrate from small and medium-sized manufacturers is 1,580-1,630 yuan/ton. The transaction price for 38-grade medium-grade titanium concentrate excluding tax is 1,050-1,120 yuan/ton, while the price for 47%, 20-grade ore is 1,800-2,050 yuan/ton. With road access restored in the Xinjiu area of Panxi, the operating rate of processing plants has increased, leading to more raw material availability though supply remains tight. Coupled with high operating rates in downstream markets, medium-grade ore quotations increased this week. However, smaller mines still faced some pressure in securing sales orders. Due to high downstream costs, the market largely adopted a wait-and-see attitude towards high-priced raw materials, and water-processing plants also procured cautiously. As the holiday approaches, downstream demand remains rigid. Ore suppliers are fulfilling existing orders, and implementing new order quotations also faces pressure. The mainstream transaction price for titanium ore is temporarily stable.
The price of imported titanium ore remained stable. Currently, the CIF price for Mozambican titanium ore is $280/ton, the FOB price for Vietnamese B-grade ore is $280-295/ton, the CIF price for Australian ore is $275-295/ton, and the mainstream ex-works price including tax for Nigerian 48-50% ore is 1,700-1,800 yuan/ton. With high prices for Panxi ore, imported ore prices held steady, and suppliers' overseas quotations also stabilized. Downstream titanium slag and titanium dioxide enterprises continue to face high cost pressures and remain resistant to expensive raw materials. New order negotiations are deadlocked as market supply and demand remain in a standoff. Prices are expected to remain stable for now.
Titanium Dioxide
The titanium dioxide market was stable this week. Currently, the ex-works price including tax for Chinese rutile titanium dioxide is 12,600-13,600 yuan/ton, and for anatase titanium dioxide it is 12,000-12,400 yuan/ton. During the market off-season, some downstream enterprises in the north have begun holidays successively, leading to weakened demand. Additionally, previous demand was somewhat透支, resulting in relatively weak recent sales. Enterprises are mainly fulfilling existing orders. Strong foreign trade demand and low factory inventories provide some support to the current market. Although the price of raw material sulfuric acid dropped earlier, prices in some markets rebounded this week. With both titanium ore and sulfuric acid prices at high levels, titanium dioxide production pressure is significant. Market quotations are stable. It is reported that leading enterprises may announce new policies this month, leading to strong market watchfulness. Titanium dioxide prices are now mostly negotiated on a case-by-case basis.
Sulfuric Acid
Sulfuric acid prices in some markets adjusted slightly this week. Currently, the ex-works price for 98% sulfur-burning acid in Shandong is 990-1,130 yuan/ton, for 98% smelter acid it is 690-900 yuan/ton, and the delivered price for 98% smelter acid in Yunnan is 920-980 yuan/ton. The price increase in Shandong was mainly driven by rising raw material costs for local refineries and low inventory levels, supporting the market and leading to a follow-up increase of 50-100 yuan/ton. Yunnan prices rose by 20 yuan/ton this week, primarily because previous prices were low, creating a price gap with surrounding markets. Improved shipments led to a gradual tightening of local sulfuric acid supply. Major acid plants controlled shipments, causing prices to rise. Although policy-related news continues to have an impact, sulfur prices are fluctuating within a narrow range at high levels. Overall sulfuric acid costs remain high. With downstream demand showing a stable trend, the sulfuric acid market is basically balanced in production and sales with no inventory pressure. The sulfuric acid market is expected to maintain its high price level in the short term.
