Domestic Titanium Dioxide Market
Due to the low-level operation rate of China titanium dioxide industry and the rising prices of raw materials in the last week, Shandong Doguide announced the price increase of ￥500/tonne for domestic titanium dioxide products and $80/tonne for global contracts which has led the tenth price hike in the year of 2016. However, most producers stay cautious about the price rise since the domestic titanium dioxide market is still in off-season. Some producers have strong initiatives to raise the price of titanium dioxide, but the frequently price hikes make the downstream buyers hard to accept the high prices. Therefore, most producers of titanium dioxide will delay the price rise initiative for this tenth price increase trend.
The current prices of titanium dioxide (August 26): Lomon (R-966), CNY12800-13900 ($1963-2132) per metric ton; Main market price (Rutile Tio2), CNY11600-13300 ($1779-2040) per metric ton; First class manufacturers (Rutile Tio2), CNY12500-13300 ($1917-2040) per metric ton; Second class manufacturers (Rutile Tio2), CNY11600-12300 ($1779-1887) per metric ton; Main market price (Anatase Tio2), CNY8800-9800 ($1350-1503) per metric ton.
A Glimpse of Global Titanium Dioxide Market (August 26)
In the European titanium dioxide market, the views on the TiO2 supply remain varied this week. Some buying and reselling sources said the recent snug supply for standard paints and coatings grade TiO2 has eased to some extent, helped by the quieter summer holiday period. TiO2 supply tightened in the first half of 2016, believed to be because of producers’ stricter inventory controls, possible production rate adjustments and better-than-expected demand in the first half of 2016. TiO2 contract prices rose significantly in most cases in the third quarter, driven by tight supply and margin recovery. The current contract price of titanium dioxide in the Europe is 1.96-2.25 EUR/kg.
In the US titanium dioxide market, a third separate US TiO2 price-increase initiative intended for Q4 implementation surfaced this week. Tronox announced plans to raise its US pigment price by 7 cents/lb, effective 1 September. Huntsman recently announced plans to raise its TiO2 prices by 7 cents/lb, effective 1 September, in the US, Europe, Asia, Africa, Latin America, and the Middle East. Before that, Kronos announced a plan to raise its US prices by 7 cents/lb, effective 1 July. The current contract price of titanium dioxide in the US is 1.23-1.30 USD/lb.
Asia market prices of titanium dioxide were assessed as unchanged, with Q3 contracts largely settled range-bound and spot trade limited in the week. Buyers in the region were resigned to the price increases imposed by the major producers, with many saying that the price increases have not been due to any real increase in downstream demand or buying sentiment. Instead, the firmer prices in August have been as a result of a tight global supply of the material. The current market price of titanium dioxide in Asia is $2200-2400/tonne.
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