Recently, domestic titanium dioxide enterprises have raised prices again, and the second round of price increases for titanium dioxide in 2024 has been opened. On February 20, the first Longbai Group and Huiyun Titanium Industry announced that the sales price of various types of titanium dioxide would be raised on the same day. On February 21, the sales price of various types of titanium dioxide was raised in the central nuclear titanium dioxide, and the sales price of titanium dioxide was also officially raised in Ananda on February 22.
According to the announcement, the sales price of domestic customers of each model of titanium dioxide of China Nuclear Titanium Dioxide and Annada of the two companies has been increased by 700 yuan/ton, and the sales price of international customers has been increased by 100 US dollars/ton. Ananda said that after the first round of price adjustment on January 20 and this price adjustment, the company's domestic sales base price of rutile titanium dioxide and anatase titanium dioxide have been increased by 1400 yuan/ton, and the foreign trade sales base price has been increased by 200 US dollars/ton.
Two factors are driving up prices
Zhuochuang information monitoring data show that as of February 21, the price of rutile titanium dioxide in the central China market is 16,000 yuan/ton to 16,800 yuan/ton. East China market (Jiangsu), anatase titanium dioxide price is 13700 yuan/ton to 14500 yuan/ton, rutile titanium dioxide price is 15500 yuan/ton to 16300 yuan/ton. Since August 2023, the average price of anatase titanium dioxide has risen from about 13,000 yuan/ton to the current 14,100 yuan/ton; The average price of rutile titanium dioxide rose from 15500 yuan/ton to the current 16000 yuan/ton.
The reporter learned that the reason for this round of price increases is basically the same as the logic of the first round of price increases in January, that is, cost support and export hot.
In an interview with the Securities Daily reporter, the relevant person in charge of Ananda said that the cost is one factor, and another factor is that exports are good, and domestic leading enterprises take the lead in raising prices.
"The recent increase in titanium concentrate prices has supported the increase in titanium dioxide prices." The above responsible person said that in terms of exports, the Indian market and the European market have a greater impact on the export of leading enterprises, and once the domestic leading enterprises raise prices, other enterprises will follow.
It is understood that in the raw material procurement cost of titanium dioxide, the procurement cost of titanium concentrate and sulfuric acid accounts for more than half of the price of titanium dioxide. Affected by the oligopoly market, the price of titanium concentrate has fluctuated, but the price is relatively strong. The price fluctuation of sulfuric acid is large, the business community monitoring data show that the current domestic sulfuric acid market average price rose 8.67% compared with the Spring Festival.
Wang Qiangfeng, chief analyst of the chemical industry of Hua 'an Securities, said in an interview with the Securities Daily reporter that on the one hand, the price of titanium concentrate has continued to rise from the end of 2023; On the other hand, the demand for coatings and paints in some overseas markets maintains a growth trend, titanium dioxide exports remain high, and some overseas manufacturers are also raising prices, leading to a recent rise in titanium dioxide prices.
In the view of Sun Wenjing, titanium dioxide analyst of Zhuo Chuang Information, the increase in the risk of shipping in the international market has also stimulated a considerable number of overseas customers to increase orders in advance. "At present, the international market orders are more abundant, and the market supply side has turned to out-of-stock scheduling, so domestic manufacturers have raised the execution price of new orders to alleviate the cost pressure of synchronous increase."
Prices are expected to continue rising in the spring
In general, titanium dioxide downstream enterprises, coating enterprises after the holiday to resume work planned in March, the current operating rate is still low, limited titanium dioxide consumption. Plastic enterprises generally start gradually in late February, and the amount of titanium dioxide gradually increases in March. Therefore, March and April titanium dioxide procurement into the peak season.
"The price rise and fall of each ton of titanium dioxide has no small impact on us. Therefore, the company has always adhered to the marketing concept of low inventory. In the past two years, the company's inventory has been at a low level, and the titanium dioxide production and sales rate is 100 percent." The relevant person in charge of Ananda further said that the price of titanium dioxide in the peak season is still expected to depend on the production of domestic manufacturers, as well as changes in the international market.
Sun Wenjing believes that the downstream enterprises of titanium dioxide in the spring will resume, market consumption will be significantly increased, and the rhythm of manufacturers' shipments will also be accelerated. In the case of raw material prices are also expected to rise, the actual transaction of titanium dioxide is expected to gradually rise, and is expected to remain stable after reaching the stage of high prices in April.
Wang Qiangfeng made it clear that in the short term, affected by the high price of titanium concentrate, the recovery of domestic demand and the continued rise of exports, it is expected that the price of titanium dioxide is still going up, and the price center is expected to gradually rise in 2023.
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