Market Report

1. Titanium Dioxide (TiO2) Market Analysis

• The market for titanium ore (ilmenite) has been weak, with a few small and medium mines continuing to drop their prices. Current transaction prices for small and medium manufacturers are around $350-$360 per ton, while the prices for 38%-42% grade titanium ore are around $222-$229 per ton (excluding tax).
• 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. There is a good demand for imported titanium ore despite domestic ore prices being high and a strong start-up in the downstream market. However, the supply of some imported titanium ore remains tight.
• The titanium slag market remains weak, with 90% low calcium and high titanium slag priced at around $823-$832 per ton. Due to high raw material prices, production costs for high slag are high. However, with weak downstream prices, the high slag market price may continue to be weak.
• The titanium tetrachloride market continues to operate stably, with current market prices around $850-$907 per ton. Due to insufficient start-ups and low prices of titanium tetrachloride, enterprises are reducing or halting production.

2. Titanium Dioxide Pigment Market Trends

• The titanium dioxide pigment market continues to be weak. At the end of September, some enterprises continued to lower their prices for October, causing market prices to be somewhat chaotic. Current prices for Chinese rutile titanium dioxide are around $2162-$2302 per ton, and anatase titanium dioxide is around $2049-$2104 per ton.
• Due to weak demand, large inventory pressure, and environmental impact, some enterprises will maintain reduced production in October. Some enterprises have already started overhauling in September, resulting in reduced titanium dioxide output.
• Despite high raw material costs and significant cost pressures for enterprises, there is some support for titanium dioxide prices and limited space for price reductions. However, with weak domestic demand and anti-dumping investigations launched by the European Union, India, and Brazil against China (titanium dioxide), there is some pressure on domestic titanium dioxide export prices.

3. Market Forecast

• Titanium ore supply remains tight, and prices are expected to stay stable.
• Due to high raw material costs, titanium dioxide prices are expected to remain weak but stable.
• As leading companies announced price increases, the activity of the international market has increased significantly
• There is an imbalance in the supply and demand of sponge titanium, and prices are expected to remain weak.