China TiO₂ Market Outlook: Weak Demand and Rising Inventory Pressure Keep Prices Under Pressure (2026-10-23 to 2026-10-30)

TiO₂ Price Forecast: Weak Demand, High Supply and India's Anti-Dumping Duties Add Market Pressure

Buyer Summary: The China TiO₂ Market weakened further this week as downstream demand remained sluggish, production stayed relatively high, and producer inventories continued to increase. New-order prices moved lower amid intensifying competition, while lower raw material costs weakened production cost support. Meanwhile, India reinstated five-year anti-dumping duties on Chinese TiO₂, adding further pressure to export market expectations. Near-term TiO₂ prices are expected to remain under pressure, with limited prospects for a meaningful recovery.

1. Titanium Dioxide (TiO₂) Market Analysis

• Downstream demand remained sluggish as the market entered the traditional off-season. Purchasing activity from coatings, plastics, and other end-use sectors was limited, with buyers mainly placing small orders based on immediate requirements. New-order inquiries and overall transaction activity remained weak.
• Industry operating rates remained relatively high, resulting in sufficient market supply and increasing inventory pressure. Major producers continued to rely on existing orders and export business, while smaller manufacturers faced greater difficulties securing new orders and maintaining shipments.
• Some manufacturers reduced quotations further as competition intensified. A leading producer also introduced distributor pricing policies with different rebate levels according to sales targets, while several manufacturers adjusted their new quotations accordingly. The next month's official list price has not yet been announced, contributing to continued market uncertainty.
• Overall, the market is experiencing pressure from both domestic and international sides. Weak domestic consumption, sufficient supply, rising inventories, and increasing export trade barriers are collectively weighing on producer pricing confidence.

Product	Previous Week (39th Week, 2026)	Current Week (40th Week, 2026)	Weekly Change
Anatase	129	128	-1
Rutile	131	130	-1

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. Current-week index figures were not included in the available market data.

2. Titanium Dioxide Pigment Market Trends

• Raw material costs: Domestic ilmenite prices declined further as major producers increased supply and downstream TiO₂ manufacturers continued to press for lower purchasing prices. Panzhihua 46% ilmenite traded at approximately USD 157–163/ton, while 47% material was around USD 160–167/ton. Imported ilmenite also remained weak amid high port inventories and limited purchasing interest, reducing upstream cost support for TiO₂ producers.
• Production cost trends: Sulfuric acid prices continued to diverge by region, with smelting acid supported by plant maintenance and tighter inventories, while sulfur-based and ore-based acid prices eased. Overall, raw material cost conditions are providing less support for TiO₂ prices. Titanium tetrachloride, however, remained relatively firm due to high chlorine costs and tight spot availability.
• India's anti-dumping duties: On October 24, 2026, India's Ministry of Finance issued Notification No. 26/2026-Customs (ADD), reinstating five-year anti-dumping duties on TiO₂ originating in or exported from China. The announced duty range is USD 460–681/ton. This development introduces additional export costs and uncertainty for Chinese TiO₂ suppliers targeting the Indian market.

3. Market Forecast

• The near-term TiO₂ Price Forecast remains weak. Seasonal demand is declining, downstream purchasing remains cautious, and high industry operating rates continue to create sufficient supply. Further downward pressure on actual transaction prices cannot be ruled out.
• Producer inventory pressure is likely to remain a major market concern. Manufacturers with weaker order backlogs may need to offer more competitive quotations to secure new business, potentially widening the gap between official list prices and actual transaction prices.
• Lower domestic ilmenite prices and easing costs for some sulfuric acid producers are weakening the raw material cost floor. Although titanium tetrachloride remains relatively firm, overall upstream conditions currently provide limited support for a broad TiO₂ price recovery.
• India's reinstated five-year anti-dumping duties represent an additional challenge for Chinese TiO₂ exporters. Together with existing trade restrictions in other markets, these measures could affect export competitiveness and increase pressure on manufacturers to explore alternative overseas markets.
• Downward pressure on TiO₂ prices remains, although quotations from some brands are still relatively stable. The overall market trend is expected to become clearer gradually around mid-November as market conditions continue to develop.
• For buyers, the current market provides greater room for price negotiation, particularly when dealing with manufacturers facing inventory and order pressure. Without a meaningful improvement in downstream demand, TiO₂ prices are likely to remain weak, and procurement decisions should continue to focus on actual consumption requirements and competitive supplier quotations.

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