In the past six years, the market price trend of titanium ore and titanium dioxide has been down and down. In 2020, affected by the global epidemic, market product prices plummeted across the board. As the epidemic improves, the market has gradually recovered, and prices will hit a high point in 2022; When the global epidemic ended at the end of last year, global economic pressure was running high in 2023, and market prices fell again. However, it can be seen from Figure 1 that after the market experienced a consecutive year of shocks and declines, the price of titanium dioxide fell by 12.05% compared with the beginning of 2018, while titanium oxide prices are still relatively high, and prices have increased by about 56.50% compared with the beginning of 2018.
Raw material costs and prices continue to rise to high levels. In 2022, titanium dioxide companies suffered serious losses. In the performance report of listed companies, they disclosed a significant decline year-on-year and month-on-month.
figure I
figure II
The market trend of titanium slag, titanium tetrachloride, and titanium sponge from 2018 to 2023 shows a trend of "ups and downs". It can be seen from Figure 3 that the price of titanium sponge drives the price of titanium raw materials to fluctuate, among which the price increase of high-titanium slag is the most obvious. Compared with the price increase of 37.87% at the beginning of 2018, the price increase of titanium tetrachloride is 18.01%, and the price increase of titanium sponge is 19.82%;
In the past two years, there have been many new production capacity in the sponge titanium and titanium slag market. As market output has been released one after another, and downstream terminal demand has grown slowly, oversupply in the market has gradually emerged, and market prices have weakened and declined.
figure III
The following figure is a summary of the profits of titanium listed companies in 2022:
