Market Report

Titanium Dioxide (TiO2) Market Analysis

• The market for titanium ore (ilmenite) remains tight. The current transaction prices for small and medium manufacturers are around $307-$311 per ton, while the prices for 47% grade ore are around $339-$353 per ton. The price for 38% titanium middle ore (excluding tax) is around $221-$226 per ton. The supply remains constrained, with high prices for middle ore and significant cost pressure on refined ore.
• Prices for imported titanium ore have remained steady, with Mozambique titanium ore priced at around $368 per ton and Kenyan 47%-49% grade ore priced at around $362 per ton. Despite the high domestic prices and a strong downstream market, the supply of imported titanium ore remains tight, supporting steady prices.
• The high titanium slag market is stable, with 90% low calcium magnesium high titanium slag priced at around $1052 per ton, down by $28 from last month. The 85% low calcium magnesium high titanium slag is priced at around $941 per ton, also down by $28 from last month. The market experiences significant pressure due to high raw material costs and weak downstream prices.
• The titanium tetrachloride market continues to operate stably, with current prices around $872-$941 per ton. Companies face significant cost pressure due to the high prices of liquid chlorine and titanium raw materials, leading to stable market prices despite low downstream demand.

Titanium Dioxide Pigment Market Trends

• The titanium dioxide pigment market remains stable. Current prices for Chinese rutile titanium dioxide (including tax) are around $2099-$2292 per ton, and anatase titanium dioxide is priced at around $1960-$2024 per ton. Some top manufacturers have implemented discount policies for dealers, resulting in increased orders.
• Raw material prices for titanium ore and sulfuric acid continue to rise, increasing production costs for titanium dioxide companies. June export market data shows a significant increase, with a 18.14% year-on-year increase in titanium dioxide exports for June 2024 and a 16.31% increase for the first half of 2024.
• Despite high production costs, domestic end-demand remains weak. Some companies have started maintenance, while others are resuming production, leading to a slight increase in July’s titanium dioxide output. However, market prices remain firm due to the tight supply of some models and high raw material costs, though upward price pressure persists due to weak market demand.

Market Forecast

• Titanium ore supply remains tight, and market prices are expected to stay high.
• Titanium dioxide manufacturers face high costs and maintain firm market operations.
• Market demand recovery is slow, causing continued price pressure.