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.

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.

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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