Market Report

1. Price Trends

Prices of Titanium Dioxide (TiO2) pigment showed an uptick this week. The LB Group, one of the top manufacturers, increased domestic prices by approximately $69.5 per ton, and international prices by $100 per ton.
Following this, six other companies in the market adjusted their prices accordingly.

Current prices of TiO2 pigment in the market range from approximately $2284 to $2432 per ton for Rutile type and $2083 to $2154 for Anatase type.
Following last week’s international price increase of TiO2, export prospects for domestic TiO2 companies have improved. In the first two months of 2024, China’s TiO2 export volume was around 40780 tons, a year-on-year increase of 2.65%.
Due to low inventory levels, the market for certain brands of TiO2 is tight. Coupled with the price increase this week, some companies have backlogged orders until late next month.
The supply of raw materials is tight and prices are high, leading to increased cost pressures for TiO2 companies.

Given the tight supply of ilmenite and the low inventory of TiO2, prices are expected to remain high.