Titanium Weekly Review (April 30 to May 8)

Titanium Ore
The titanium ore market continued to decline this week. The price of 10 ore of some small and medium-sized enterprises dropped by about 100 yuan/ton compared with the pre-holiday period. As of now, the price of 46 and 10 titanium ore of small and medium-sized manufacturers is 1750-1800 yuan/ton, the price of 47 and 20 ore is 2200-2280 yuan/ton, and the tax-free price of 38 titanium medium ore is 1200-1280 yuan/ton; the price of titanium dioxide has been gradually reduced, the market operation has declined, the willingness to purchase raw materials is low, and the pressure on titanium ore shipment is relatively large; the iron ore market is good, the water selection plant is actively operating, the supply of medium ore increases and the price goes down, the transaction of low-priced goods from small mines increases, the pressure on miners to ship is still relatively large, and they are mostly bearish on the future market, and the price will continue to run weakly.

The imported titanium ore market is weak and stable. The CIF price of Mozambique titanium ore is US$370/ton, the FOB price of Vietnam B ore is US$320/ton, the CIF price of Australia is US$315/ton, and the ex-factory price of Nigeria 48-50 ore including tax is RMB 2350-2380/ton; the downstream demand is weak, and there is pressure on new orders. The prices of some imported ores have also been slightly adjusted. Due to the high pressure from downstream, it is expected that some domestic prices may weaken in the later period.

Titanium slag
The high titanium slag market is weak and stable. Northern enterprises have no bidding plans this month; the downstream market demand is sluggish, the pressure on raw material costs is high, the pressure on high slag shipments is high, the market operation is low, and the price of high titanium slag continues to run weakly and steadily.

The acid slag market is weak. As of now, the ex-factory price in Sichuan is 5820-5870 yuan/ton, and the ex-factory price in Yunnan is 4650 yuan/ton. There is basically no export circulation in the acid slag market, the price of titanium dioxide is weak, the willingness to start production in the acid slag market is low, and the market has a price but no market.

Titanium tetrachloride
The titanium tetrachloride market is stable. The current market price of titanium tetrachloride is 5700-6000 yuan/ton. The prices of raw materials and auxiliary materials have fallen, and the production pressure has been relieved. The demand for titanium tetrachloride is sluggish, the market is under-operated, and the pressure to ship is still large. The market is weak and stable.

Titanium dioxide
The titanium dioxide market is still weak after the holiday. Some companies have continued to lower their prices in May, and the market prices are also relatively chaotic. As of now, the ex-factory price of rutile titanium dioxide in China is 13,500-15,100 yuan/ton, and the ex-factory price of anatase titanium dioxide is 12,800-13,200 yuan/ton. Due to weak demand and increased inventory pressure, some companies also made production cuts and suspensions in May, and some companies have resumed production recently. The price of raw material titanium ore fell sharply in the early stage, and the price of sulfuric acid also fell. The cost pressure of titanium dioxide has eased, and the price of enterprises has continued to decline, but the overall transaction of new orders is still not good. Some companies are also afraid that the inventory will continue to grow, and there are plans to suspend production in the later period. The market pays more attention to the dynamics of tomorrow's leading enterprises. The foreign trade export situation is still severe, and the price of titanium dioxide will continue to be weak.

Sulfuric acid
This week, the domestic sulfuric acid market was divided, with prices in some regions fluctuating. As of now, the ex-factory price of 98% smelting acid in Liaoning is 630-760 yuan/ton, the price of 98% smelting acid in Inner Mongolia is 520-880 yuan/ton, the ex-factory price of 98% smelting acid in Shandong is 440-580 yuan/ton, and the ex-factory price of 98% smelting acid in Sichuan is 650-800 yuan/ton; due to the active reduction of inventory by acid plants in some regions before the holiday, the acid price was lowered and the shipment situation was good. After the holiday, the pressure on acid companies was not great. The supply of sulfuric acid in some regions was tight, and the price of new orders rebounded slightly. Rise; Acid prices in Shandong, Sichuan and Henan continued to fall slightly this week. Affected by poor demand in the region, coupled with the reduction of production of downstream phosphate fertilizer and titanium dioxide enterprises, acid companies are under great pressure to ship, and the new price has a small profit; while the price of raw sulfur continues to be high, sulfuric acid enterprises are under significant cost pressure, and the cost pressure is still relatively large; this month, the main acid plants in some regions will enter the maintenance cycle, and the acid plants that were previously maintained are expected to resume production. The contradiction between supply and demand in the sulfuric acid market is divided, and the market is in a wait-and-see mood. In the later period, the market will pay more attention to the inventory of acid plants. Acid prices in some regions may be adjusted in a narrow range at a high level.

Sponge titanium
The sponge titanium market is temporarily stable this week. At present, the market price of grade 1 sponge titanium is 47,000-52,000 yuan/ton, and the price of grade 0 sponge titanium is 48,000-54,000 yuan/ton; sponge titanium enterprises deliver orders on hand, and the inventory pressure is not large for the time being. The factory quotation is firm, the market inquiry is not good, and some new orders are deadlocked, and the market price remains stable.

Market forecast:
1. Downstream demand is weak, titanium ore prices will be weak;
2. Market demand is weak, titanium dioxide prices are stable and weak;
3. Sponge titanium inventory pressure is not great for the time being, and prices remain stable.