Market Report

1. Titanium Dioxide (TiO2) Market Analysis

• Domestic ilmenite prices remain firm after the holidays. Ilmenite with 46% TiO₂ content (commonly referred to as 46/10 grade) produced by small to mid-sized suppliers is priced at approximately $237.5–$244.7/ton. Mid-grade 38% TiO₂ ilmenite is quoted at $160.7–$174.7/ton (excl. tax), while high-grade 47% TiO₂ ilmenite (47/20 grade) is priced at $251.5–$274.6/ton. Although major producers like Pangang have ramped up shipments, production halts at some TiO₂ pigment plants in October have created headwinds for downstream consumption.
• Despite some producers announcing price hikes, smaller miners’ quotes are temporarily stable. Downstream TiO₂ market saw another wave of price increase letters, which is a positive sign. However, due to cautious procurement and a strong wait-and-see sentiment, short-term ilmenite prices are expected to remain firm.

2. Titanium Dioxide Pigment Market Trends

• Post-holiday, the Chinese TiO₂ pigment market experienced a new round of price increases. As of now, rutile TiO₂ (tax included) is priced at $1,850–$1,930/ton and anatase TiO₂ at $1,710–$1,770/ton. LB Group led the increase starting October 10 with a hike of $41.9/ton, followed by other major producers.
• Export market remains stable at pre-holiday levels, but export volumes may rise in the near term. Strong ilmenite prices and high sulfuric acid costs keep production costs elevated, supporting TiO₂ price hikes.
• Although downstream sentiment is cautious, existing orders and cost pressures suggest TiO₂ prices may continue to edge up slightly in the short term.
• Sulfuric acid prices have slightly decreased in some regions. Current prices: Hubei $64.3–$78.3/ton, Guangxi $102.1–$110.4/ton, Guizhou $100.6–$109.0/ton. Due to increased demand, reduced inventories, and scheduled maintenance in some acid plants, there is potential for price rebound in selected areas.

3. Market Forecast

• Strong support from raw material costs and price adjustment actions by top manufacturers will likely push TiO₂ pigment prices slightly higher.
• Procurement in the ilmenite market remains cautious, but overall prices are expected to stay firm in the short term.
• Sulfuric acid cost fluctuations may impact TiO₂ production costs, indirectly supporting further mild price increases.

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