In 2023, China's titanium dioxide market experienced four stages of "rising and falling". The price of titanium dioxide as a whole increased by 1600-1800 yuan / ton compared with the beginning of the year, an increase of 11%. As of press time, the tax-containing ex-factory price of rutile titanium dioxide in China is 15800-17300 yuan / ton, and the tax-containing ex-factory price of anatase titanium dioxide is 14700-15000 yuan / ton. there was no big rise or fall in the titanium dioxide market as a whole in 2023, and the market operation was relatively stable.
1. In the first quarter, the market price of titanium dioxide was digested by inventory, the export order increased and the cost was high. From January to February, the price of titanium dioxide rose steadily. Due to the rapid price increase in late March, there was some conflict in the lower reaches. Individual enterprises made a profit at the end of March.
2. The price of titanium dioxide declined weakly in the second quarter, domestic demand was depressed, and the price fell; the price of titanium dioxide has declined continuously since April, and the market price has dropped by about 1300 yuan / ton by the end of June, and some prices have already lost money. Some enterprises have cut production since May, and prices have stopped falling at the end of June.
In the third quarter, the titanium dioxide market was affected by the pick-up in demand and rising costs. From July to September, the price of titanium dioxide continued to rise, and the market rose for three consecutive rounds. Under the high supply and prices, there was some pressure on enterprise shipments in late October, and the prices of individual enterprises were adjusted.
As of mid-November market prices are still higher than the same period at the beginning of the year, due to the downturn in market demand and the decline in raw material prices, the titanium dioxide market has been weakly adjusted since November, and the prices of individual large factories are 500,600 yuan / ton than the previous discount. There are also enterprises whose prices are about 1500 yuan / ton lower than the previous prices; affected by demand, the operating rate of titanium dioxide will decline, and the decline in market prices in the later period may slow down.
According to Tuduoduo statistics, China's titanium dioxide production is expected to be 4.2 million tons in 2023, an increase of 300000 tons over last year. Titanium dioxide production capacity will be released again in 2024, which is expected to increase by nearly 350000 tons.
New production capacity of Q1 China Titanium dioxide from 2023 to 2024
The market forecast of titanium dioxide in 2024:
After a brief pulsed recovery in consumption brought about by the economic restart in 2023, economic growth is expected to be closer to the "new normal" in 2024, with GDP continuing to pick up year-on-year and investment growth of about 4 per cent, according to the state news. At the same time, global trade is expected to contract slightly in 2024, but China's exports are still likely to grow slightly faster than globally. Given that import growth is still weak, the contribution of net exports to growth is expected to remain high, while the pull of net exports to real GDP is likely to rise further.
1. Since the second half of 2023, the multi-level real estate policy has been fully implemented, and the current strength is gradually approaching 2014. The state believes that 2024 may be the year of real estate stabilization.
2. The new production capacity of China's titanium dioxide market continues to increase. It is estimated that China's titanium dioxide production capacity will reach 6 million tons in 2024, and the monthly output will exceed 500000 tons.
3. The international market share will increase steadily. The export volume is expected to reach 1.65 million tons in 2023 and 1.8 million tons in 2024. The quality of Chinese products will be improved and the competitiveness will be enhanced.
4. The supply of titanium concentrate in China is still tight, and the price continues to be high.
Although the terminal demand of titanium dioxide market may increase with the increase of high-speed supply, compared with the growth rate of titanium dioxide supply or weaker, the titanium dioxide market will enter the stage of oversupply, and titanium dioxide enterprises will still face greater pressure in 2024.
