Market Report

1. Titanium Dioxide (TiO₂) Market Analysis

The titanium dioxide market in China remained broadly stable this week. See the table below for current market prices and weekly changes:

Product	Price Range (USD/ton)	Change vs Last Week
Rutile-grade TiO₂	$1,850 – $1,930	→ No Change
Anatase-grade TiO₂	$1,710 – $1,770	→ No Change

Top TiO₂ manufacturers, including LB Group, have maintained firm pricing policies to offset rising raw material costs such as ilmenite and sulfuric acid. However, downstream buyers continue to resist higher prices, limiting actual transaction volumes.
Despite cost pressure, inventory levels at most producers remain manageable, with no significant stock accumulation, indicating a cautious but controlled production strategy across major suppliers.

Raw material costs have continued to rise, particularly for sulfuric acid, which increased by approximately $15–$20/ton compared to last week. The price rebound is mainly supported by higher downstream demand, reduced inventories, and ongoing maintenance in several acid plants.
Although producers have implemented higher price quotes for October shipments, actual transactions remain limited as end-users are reluctant to accept high-cost materials amid soft downstream demand.
Two major TiO₂ plants that were under maintenance are expected to resume production shortly, which may lead to a modest increase in operating rates. However, weak downstream demand and intense competition may create short-term oversupply risks.

TiO₂ prices are likely to remain stable in the near term due to persistently high input costs, but market activity will depend heavily on downstream demand recovery.
The domestic market continues to face sluggish demand and fierce competition, while export growth remains challenged by trade barriers in several regions.
In a major industry development, LB Group announced the signing of an agreement to acquire Venator’s Greatham TiO₂ plant and related assets in the UK. This acquisition is expected to enhance LB Group’s global supply capabilities and strengthen its presence in the European market. Strategically, it may also increase cost efficiency and improve customer responsiveness in the high-end pigment segment.