Domestic titanium dioxide (TiO2) market remained resilient throughout July, defying notable fluctuations in pricing dynamics. Early in the month, despite the persistent surge in titanium ore prices and high sulfuric acid costs, as well as some manufacturers’ decision to postpone maintenance shutdowns to August, TiO2 prices held steady. This stability persisted as market forces balanced out the upward pressures.
Midway through July, select TiO2 grades experienced marginal price hikes in response to production curtailments or temporary halts at certain facilities. However, these isolated increases did not disrupt the overall stability of manufacturer quotations. Towards the end of the month, as maintenance shutdowns concluded and leading enterprises introduced incentive measures for distributors, the market maintained its composure, reinforcing the notion of stability.
In the realm of international trade, customs data revealed that China’s TiO2 imports for June 2024 totaled 7,547.60 tonnes, registering an annual increase but witnessing a sequential decline. Nonetheless, the cumulative import volume for the first half of the year soared significantly compared to the previous year. On the export front, June witnessed a robust performance with 176,400 tonnes of TiO2 shipped overseas, marking both year-on-year and month-on-month gains. The overall export trend for the first six months of 2024 also exhibited a positive year-over-year growth trajectory.
Parallelly, the domestic sulfuric acid market exhibited robust momentum in July, with prices soaring across various regions. Supply constraints in Inner Mongolia’s Chifeng region, stemming from plant shutdowns for maintenance, coupled with robust downstream demand from phosphate fertilizer manufacturers, fueled price hikes. Similarly, Hunan, Guangdong, Shandong, and Hubei witnessed upward adjustments in sulfuric acid prices, attributable to factors such as rising raw material costs, low inventories, and stable downstream demand. Yunnan remained tight in sulfuric acid supply, prompting key producers to revise prices upwards. In summary, July witnessed a comprehensive uptrend in domestic sulfuric acid market prices.