In the supply-side reform and the promotion of downstream demand season, titanium dioxide prices rose again. On the 17th, the industry leader Sichuan Longxi increased 500 yuan per ton, and individual companies raised their prices by 1,000 yuan per ton. This round of titanium dioxide prices raised for the sixth time in the year, the cumulative increase has reached 25%. The industry expects that there will be room for price increases in accordance with the current inventory and demand trends.
According to news on May 18, the agency believes that since the fourth quarter of last year, the market demand for titanium dioxide began to increase due to a rebound in real estate sales and better foreign trade. In addition, supply-side reforms have increased industry concentration and improved market operating environment. Related companies stated that the current market inventory is low and the supply is tight, and the industry's profitability is expected to continue to increase.
The latest developments show that the operating rate of the titanium dioxide market has recovered slowly and the market supply is still tight. Since May, companies are actively handling pre-orders. Due to frequent market price increases, many domestic and foreign companies have advanced their procurement plans. On the other hand, the increase in the price of raw material titanium concentrate has also provided support for price adjustment in the titanium dioxide market. . The data shows that the current tax-free price in the titanium concentrate market remains around 600 to 650 yuan/ton, which is an increase of over 15% from the beginning of the year.
From the perspective of industry fundamentals, the production capacity of titanium dioxide in China was 3.52 million tons in 2015, and the operating rate in the titanium dioxide industry was 67%. Due to overcapacity, the titanium dioxide market has continued to slump in recent years. By the end of 2015, the price of titanium dioxide had dropped to a historical low. Some models were below 10,000 yuan per ton, and many companies had inverted costs and prices. At present, the mainstream tax-inclusive price of rutile titanium dioxide in the 10800 yuan to 12,800 yuan / ton, the main price of anatase titanium dioxide in the mainstream tax price of 10,000 yuan to 11,000 yuan / ton, titanium dioxide manufacturers shipped better inventory low.
Internationally, in March of this year, the global giant titanium dioxide Koster announced that since April 1 this year, will raise the price of its titanium dioxide products 1,300 yuan / ton. Previously, the international giants such as Kemu (former DuPont Titanium Dioxide Business Unit) and Huntsman announced that since January 1 this year, their products have risen 5% in price worldwide. The successive price adjustments by overseas giants indicate that the downstream demand has recovered significantly and will also give a boost to the domestic market.
In recent years, the titanium dioxide industry in China has continued to slump, and environmental pressures on companies have gradually emerged, and some of the backward production capacity has opted out of the market. During the “Thirteenth Five-Year Plan†period, the production of titanium dioxide by the sulfuric acid process will be reduced and replaced, and enterprises that fail to meet environmental protection, energy consumption, and safety production shall be shut down in an orderly manner according to law. According to the advice on the prevention and control of titanium dioxide pollution, it will put forward requirements in the aspects of clean production, air pollution prevention, water pollution control, solid waste disposal and comprehensive utilization, and encourage the chlorination of titanium dioxide production technology, with a single-line annual production capacity of over 30,000 tons, and The titanium-rich material with a titanium dioxide content of not less than 90% is used as a raw material. There are only about 10 companies that have a domestic production capacity of 100,000 tons of titanium dioxide per year, while companies with less than 50,000 tons have a combined production capacity of nearly 500,000 tons. If this part of production capacity is eliminated, it will reduce the industry's total production capacity of about 20%, and the supply and demand relationship is expected to be further improved.
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