In late July, Sichuan Lomon decreased prices of its rutile TiO2 sold to some large customers, with the markdown in the range of USD78/t to USD156/t. The company said it had no way but to decrease prices to gain market share as it had too much inventory.
However, China's TiO2 producers are optimistic about the rebound of TiO2 prices in future months. For one thing, the inventories are limited relative to the demand from home and abroad, so the degree of the price decrease is small and the period is short. For another thing, the motive force from high titanium feedstock costs and possible demand recovery in following months will drive up TiO2 prices.
(Guangzhou China, August 26, 2011)
Source: TiO2 China Monthly Report 1108
Content of TiO2 China Monthly Report 1108:
China's TiO2 average export price exceeds import price
China's titanium feedstock import volume rebounds in June
Iluka to resume its Eneabba mining activities
ERAMET, MDL to set up a joint venture
Base reports good progress on Kwale Project
Annada's profit nearly triples in H1 2011
Huntsman Pigments' Q2 adjusted EBITDA up 135%
Rockwood TiO2 segment enjoys strong results
Kronos TiO2 segment's profit up 257% in Q2 2011
DuPont's revenue up 19% on higher prices
Anhui Goldstar to manage CNNC Huayuan
Jiangxi Tianguang's new project meets requirements
Jilin Fiber faces challenges in 2011
Sanxia Paint's profit down 21.2% in H1 2011
Wuhan Plastics reports strong profit growth
Dow's profit increases by 55.7% in H1 2011
AkzoNobel to set coating base in western China
China's TiO2 price declines in August
TiO2 multinationals announce new round of price hikes
China's CPI reached record 6.5% in July 2011, indicating that the inflation hasn't been tackled yet. But the PMI in July declined to 50.7%, reaching the lowest in 29 months.
Domestic TiO2 prices started to decrease in August 2011, as China's TiO2 producers have been depressed by the weak demand in June and July. Most producers have benefited from price upsurge in H1 2011, but they may lower their expectations in the second half this year.
The TiO2 downstream companies saw profit decrease in H1 2011, as the costs of TiO2 and other raw materials increased largely in this period.
In order to regulate the coating market, 14 national mandatory standards regarding to coatings have been implemented since 1 August 2011.
As for titanium feedstock, major foreign suppliers took measures to increase production.
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