Market Report

1. Titanium Dioxide (TiO₂) Market Analysis

• This week, China’s TiO₂ market remained broadly stable, with overall quotations holding firm amid persistently high production costs.
• Producers continue to face severe cost pressure and ongoing production losses, significantly limiting their willingness to offer price concessions.
• Domestic demand remains seasonally weak, with transactions mainly driven by just-in-time purchasing rather than proactive restocking.

Product	Price Range (USD/MT)	Change vs Last Week
Rutile-grade TiO₂ (incl. tax)	$1,930 – $2,010	No change
Anatase-grade TiO₂ (incl. tax)	$1,760 – $1,850	No change

2. Titanium Dioxide Pigment Market Trends

• Sulfuric acid prices in China have already exceeded CNY 1,000/ton, sharply increasing cost pressure on sulfate-route TiO₂ producers.
• With upstream raw-material markets remaining tight, further sulfuric acid price increases are widely expected, reinforcing the cost-push dynamic.
• Despite relatively high operating rates, profitability remains under significant strain as rising raw-material costs continue to absorb margins.
• Export sentiment improved following India’s suspension of anti-dumping duties on Chinese-origin TiO₂, though exporters remain cautious amid global demand uncertainty.

3. Market Forecast

• Cost Support: Elevated and rising sulfuric acid prices will continue to provide strong cost support for TiO₂ prices.
• Price Direction: Persistent production losses increase the likelihood of further price increase attempts, even in a weak demand environment.
• Short-Term Outlook: TiO₂ prices are expected to remain firm to slightly upward-biased, driven primarily by cost-side pressures rather than demand recovery.