Several international titanium dioxide giants announced to increase the price of titanium dioxide at the end of February this year. This week a number of titanium dioxide enterprises in China announced price increases, which ushered in a new round of price increases in the domestic titanium dioxide market.
Below are some of the Chinese TiO2 factories which have recently announced the price increase of its TiO2.
Shandong Dawn Titanium Industry Co. Ltd
In the announcements, the TiO2 of Chinese domestic market is increased by around RMB1000-RMB1500 per ton (around USD156-USD232) and the TiO2 of China's overseas market is increased by USD100-USD200.
ISK also announced on March 1, 2021 to increase its TiO2 pigment by USD200/ton effective as from April 1, 2021 in Asia-Pacific region.
Venator also announced the price increase of all its TiO2 pigment by USD 200/ton in EMEA, Asia Pacific, Latin America and by USD 0.08/lb in North America.
Compared with the previous round of price increase, this round of price increase shows two new characteristics: one is the expansion of price increase, which shows the confidence of titanium dioxide enterprises in the price increase action; the other is the common adjustment with the prices of other products in the industrial chain, rather than the solo of titanium dioxide, a single product.
Looking back on the two price adjustments of titanium dioxide industry from New Year's day to the Spring Festival of China, most enterprises chose the increase of 500-800 yuan / ton instead of the common increase of about 1000 yuan in the fourth quarter of last year. And the rise of the callback, also revealed that titanium dioxide enterprises in the price has reservations. After all, since the fourth quarter of last year, after several rounds of domestic titanium dioxide price rise, the price gap with foreign products has narrowed significantly. The narrowing of the price difference with overseas products is usually considered by the industry as likely to bring pressure on the future sales of domestic titanium dioxide. At the end of February, after overseas giants raised prices one after another, China’s domestic enterprises regained the courage to raise prices again, so the price increase of titanium dioxide in this round returned to the range of 1000 yuan. It can be said that this round of titanium dioxide price up is part of the global titanium dioxide market up.
Before the current round of price increase of titanium dioxide, the price of Panzhihua's 20 ton titanium ore has been quietly raised to 2100 yuan / ton (excluding tax); the price of rutile from some manufacturers has been raised by 500 yuan / ton; the price of reduced titanium has been raised by 300 yuan / ton; the price of high titanium slag, titanium tetrachloride and other products has been raised by 500 yuan / ton. Therefore, the current round of titanium dioxide price rise is a part of the whole titanium products upward. In the atmosphere of rising prices of other titanium products and rising raw material costs, the support of this round of titanium dioxide price rise is stronger.
At the same time, due to the large proportion of titanium dioxide in the titanium industry, the rising price of titanium dioxide led the overall rise of titanium products. The rising price of titanium dioxide may lead to further increase in the price of titanium ore and other raw materials, and further promote the cost rise and price increase of other products. Combined with the current macroeconomic environment, under the new round of easing policies led by the United States, the prices of various resource products such as steel and non-ferrous metals have walked out of the upward curve, and the economic environment is conducive to promoting the upward price of products. In the future, the short-term market will continue to operate at a high level.
Source: Paints & Coating Purchase Website