TiO₂ Price Forecast: Weak September Demand Keeps Market Under Pressure Despite Stabilization Signals (2026-08-21 to 2026-08-28)

Buyer Summary: The China TiO₂ Market remained under pressure this week as the expected “Golden September” demand recovery has yet to materialize. Selected producers lowered new-order prices, while overall inventories remained high. However, sulfate-process TiO₂ prices are already near low levels, some producers reported improved orders, and one manufacturer announced a price increase. These factors may help stabilize the lower end of the market, although a broad rebound is not yet supported by current demand.

1. Titanium Dioxide (TiO₂) Market Analysis

• The TiO₂ market remained weak this week. Domestic demand showed little improvement, inventories remained relatively high, and selected producers reduced new-order prices, pushing the overall transaction level lower.
• Pricing remained highly differentiated among producers. Transactions continued to be negotiated on a case-by-case basis as manufacturers faced different inventory, cost, and order conditions.
• During the week, Panzhihua Tihai announced a TiO₂ price increase of approximately USD 87/ton, and some producers reportedly saw a modest improvement in orders. This may help stabilize lower market quotations, although it does not yet indicate a broad industry-wide price increase.
• With sulfate-process TiO₂ prices already close to production cost levels for some producers, the room for another substantial market-wide reduction remains increasingly limited despite continued oversupply.

Product	Previous Week (31st Week, 2026)	Current Week (32nd Week, 2026)	Weekly Change
Anatase	127	127	0
Rutile	129	129	0

Price Index Methodology: The Price Index is calculated based on the average prices of the top 10 producers in China, with the base value set at 100 as of January 1, 2026.

2. Titanium Dioxide Pigment Market Trends

• Domestic ilmenite prices softened slightly as weak TiO₂ demand and producer cost pressure continued to restrict purchasing. Panzhihua 46% ilmenite was approximately USD 167–179/ton, while 47% ilmenite quotations were around USD 186–189/ton.
• Despite the weak market, Panzhihua feedstock supply remained relatively tight, beneficiation operating rates stayed low, and inventories continued to decline. Production losses have also reduced miners’ willingness to make further substantial price cuts, suggesting that domestic ilmenite downside may be increasingly limited.
• Imported ilmenite remained under pressure due to high port inventories and weak downstream purchasing. Mozambique material was quoted at approximately USD 220–230/ton CIF, Vietnam B-grade material at USD 200–215/ton FOB, and Australian material at USD 220–240/ton CIF.
• The domestic sulfuric acid market continued to trend lower overall, although regional differentiation remained significant. Current 98% smelting acid prices were approximately USD 240–254/ton in Sichuan, USD 258–280/ton in Fujian, and USD 218–240/ton in Hubei.
• Weak chemical-sector demand and cautious downstream purchasing continued to pressure sulfuric acid prices, while selected low-inventory regions recorded modest increases. Near-term sulfuric acid sentiment remains weak, providing some cost relief to sulfate-process TiO₂ producers but not enough to offset already compressed selling margins.

3. Market Forecast

• The near-term TiO₂ Price Forecast remains weak and cautious. Supply continues to exceed demand, inventories remain elevated, and the expected early “Golden September” improvement has not yet appeared.
• Supplier-specific price reductions may continue where inventory and shipment pressure remain high. However, with sulfate-process prices already near the cost line, another broad and substantial market-wide decline appears increasingly difficult.
• The price increase announced by one producer and the modest improvement in orders at selected manufacturers suggest that the lower end of the market may begin to stabilize, but these signals are not yet strong enough to confirm a broad market reversal.
• Domestic ilmenite inventories continue to decline and miners have limited willingness to make further substantial reductions. If feedstock supply tightens further, raw material costs could again provide stronger support to TiO₂ prices.
• Although September–October is traditionally a stronger demand period, actual downstream recovery remains the key variable. If seasonal restocking strengthens in the coming weeks, current low inventories in parts of the supply chain and limited producer margins could allow TiO₂ prices to rebound from low levels.
• For buyers, current market conditions still provide negotiation opportunities. However, waiting for significantly lower prices should be balanced against the possibility that improving seasonal demand and tighter raw material supply could strengthen quotations later in the peak season.

Market Notice: Due to high market volatility, prices are subject to frequent adjustments. For the most accurate and up-to-the-minute data, please consult info@tinoxchem.de.

• For more reports: TiO₂ Market Report