Market Report

1. Titanium Dioxide (TiO2) Market Analysis

• The domestic ilmenite market remained firm this week. Prices for 46% grade ilmenite are about $235-$245/ton, and 38% grade ilmenite (excl. tax) is about $154-$168/ton. Production costs remain high with limited supply, while downstream titanium dioxide plants face pressure, and short-term prices are expected to remain stable.
• Imported ilmenite prices are stable: Mozambique CIF $350/ton, Vietnam FOB $290-$305/ton, Australia CIF $285-$305/ton, and Nigeria 48%-50% ore about $265-$280/ton. New inquiries are weak, and the market is under slight downward pressure.
• The high titanium slag market is weak, with northern 90% low-calcium high titanium slag at about $880/ton, down from last month. Supply is sufficient, demand is low, and the market continues to operate at a low level.

2. Titanium Dioxide Pigment Market Trends

• Some enterprises slightly reduced prices by $28-$42/ton. Current Chinese rutile TiO2 prices are $1,765-$1,904/ton, and anatase TiO2 is $1,639-$1,681/ton. High inventories and weak orders persist, and many factories are still running below capacity, with most enterprises under cost pressure.
• The by-product ferrous sulfate market is favorable, but the overall TiO2 market is in a weak supply-demand state. Exports remain under pressure during the off-season.
• Sulfuric acid prices remained mostly stable with minor regional fluctuations. Supply and demand are basically balanced, and short-term prices are expected to remain steady.

3. Market Forecast

• Domestic ilmenite supply is tight, but weak downstream demand will keep the market in a stalemate.
• High inventories and weak exports will keep titanium dioxide prices under pressure, with a slight risk of further decline.
• Short-term market sentiment remains cautious; prices may stay weak overall.

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