Titanium Dioxide Export Support is Strong, and the Domestic Market Has a Strong Wait-and-see Mood (4.25 Titanium Weekly Report)

1. Titanium market analysis

1.1. Analysis of titanium market price

Titanium Ore

This week, the price of titanium ore market is weak and stable, as of now, the transaction price of 46, titanium ore 10 of small and medium-sized manufacturers is 2240-2260 yuan/ton, the price of 47,20 ore is 2350-2480 yuan/ton, and the price of 38,42 titanium ore excluding tax is 1580-1600 yuan/ton; the downstream titanium dioxide market is running weakly, miners are under pressure to ship, and the price of small and medium-sized titanium ore has been adjusted by 30-40 yuan/ton; Affected by the market, some large factories in Panxia area overhaul and shut down, individual enterprises resumed production this week, individual factories are still maintained shutdown, the supply of titanium ore was reduced, and the price of large factories was temporarily stable; titanium ore is at a high level, downstream enterprises purchase according to their rigid needs, and enterprises are more cautious in procurement, but the downstream titanium dioxide price is weak, and the titanium dioxide market is still under pressure in the later stage.

As of now, the price of titanium ore in Mozambique is 370 US dollars / ton, and the price of Kenyan 47-49 ore is 360 US dollars / ton; The amount of imported titanium ore has gradually increased, the increment is basically the increase of gross ore, the supply of titanium ore is still in a tight situation, and the market price is stable.

Titanium slag

The operation of the high slag market is temporarily stable, the market price of 90% low calcium magnesium and high titanium slag is 7750-7800 yuan/ton, the bidding price of high titanium slag in the north in April is flat compared with March, the high slag market starts to maintain a low level, the downstream market demand has not improved for the time being, and the supply and demand of the high slag market are basically balanced; the downstream titanium dioxide chloride market is weakening, and the high slag market is expected to continue to operate weakly and steadily.

This week, the acid slag market remained stable, up to now, the ex-factory price of that in Sichuan including tax is 5820-5920 yuan/ton, and the ex-factory price of that in Yunnan is 5300-5400 yuan/ton. The demand for acid slag market is stable, but the cost of raw materials in the downstream titanium dioxide market is under great pressure, the price pressure of the acid slag market in Yunnan is strong, the supply of acid slag in Sichuan is decreasing, and the supply and demand game of the acid slag market is temporarily stable.

Titanium tetrachloride

Titanium tetrachloride market is stable, the current titanium tetrachloride market price is 6300-6800 yuan/ton, the price of raw material liquid chlorine has fluctuated slightly in recent days, the price of titanium slag remains weak and stable, the price of titanium tetrachloride is on the edge of the cost line, the sales volume outside the market is low, and the downstream titanium sponge market demand is improving, and the titanium tetrachloride market is expected to run strongly in the later period.

Titanium dioxide

This week's titanium dioxide market wait-and-see sentiment is strong, up to now, the ex-factory price of China's rutile titanium dioxide including tax is 15800-17200 yuan/ton, and the ex-factory price of anatase titanium dioxide including tax is 14800-15400 yuan/ton; According to customs data, China's titanium dioxide export volume in March 2024 was 196,100 tons, an increase of 46.72% month-on-month and a 29.61% increase year-on-year. As the market enters the off-season, downstream enterprises are still cautious in procurement, and the market price of titanium dioxide is negotiable, although the cost of raw materials has fallen slightly, the cost is still high, the price of titanium dioxide is limited, the price is expected to be strong before the holiday, the demand continues to be poor, and the price of titanium dioxide is expected to decline slightly after the holiday.

Sulphuric acid

This week, the domestic sulfuric acid market is running weakly and steadily, and individual prices are mixed. As of now, the price of 98% smelting acid in Yunnan market is 460-550 yuan/ton, and the price of 98% smelting acid in Guangxi is 520-580 yuan/ton. The main downstream demand for sulfuric acid weakened, the demand for titanium dioxide and other industries remained stable, and the supply and demand of the sulfuric acid market were basically balanced, but the shipment of acid plants in some areas was still under pressure, the market transaction atmosphere weakened, and the prices in individual regions were less profitable, and the acid plants in the rest of the region are temporarily wait-and-see, the domestic sulfuric acid market is gradually differentiated, and the price range of sulfuric acid fluctuates.

Titanium sponge

This week, the titanium sponge market maintained a stable operation, the mainstream market price of grade 1 titanium sponge in the market was 5.2-54,000 yuan/ton, with the gradual release of new production capacity in the market, the market supply increased, and the demand of the downstream emerging market of titanium sponge increased, and the export market was good, the market supply and demand remained balanced, and the market continued to operate temporarily.

Future market outlook:

1. The supply of titanium ore is reduced, and the price is firm; 2. The market demand for titanium dioxide is weak, and the price of titanium dioxide is weak; 3. The demand for titanium sponge is stable, and the price will remain stable.