Market Report

1. Titanium Dioxide (TiO2) Market Analysis

• The titanium ore (ilmenite) market is experiencing downward pressure due to high downstream cost pressures and large inventories. Prices for small and medium manufacturers range around $230-$240 per ton, while 38% grade titanium ore is priced at approximately $154-$172 per ton (excluding tax).
• Import prices for titanium ore remain stable, with Mozambique titanium ore at about $350 per ton and Vietnamese B-grade ore at $290-$305 per ton. The market for Australian ore is priced between $280-$300 per ton CIF. Despite tight supply conditions, downstream market demand is weak.
• The titanium slag market continues to see significant price declines, with high titanium slag priced at around $817 per ton, reflecting a $63 drop from the previous month due to weak demand.

2. Titanium Dioxide Pigment Market Trends

• The titanium dioxide pigment market continues its weak trend, with Chinese rutile titanium dioxide prices between $1765-$1904 per ton and anatase titanium dioxide between $1639-$1681 per ton. Prices have been reduced further by $28-$56 per ton due to soft market demand and competitive pressures.
• High raw material costs, especially sulfuric acid, add to production pressure. Sulfuric acid prices in Shandong are at $78-$98 per ton, and Anhui at $95-$99 per ton, supported by high sulfur and pyrite prices. Despite this, regional supply increases from restarted plants are capping further price gains.

3. Market Forecast

• Domestic titanium dioxide supply remains excessive, and downstream demand shows no significant recovery, keeping prices low.
• High production costs limit price cuts, but oversupply and export pressure will likely maintain a weak price trend.
• Short-term titanium dioxide prices are expected to stay at low levels with one-on-one negotiations for some deals.

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