Following the price hike by international titanium pigment giants, China's domestic titanium dioxide producers have started to raise their product prices.
The price of anatase titanium dioxide was raised by 300 yuan/tonne on December 23. Meanwhile, orders from domestic downstream sector and foreign trade saw an apparent increase.
Domestic leading titanium dioxide producer, Lomon Corporation, has hiked its price for foreign trade by 50 US dollars/tonne. Insiders forecast that the gloomy titanium dioxide market is likely to see chances for improvement on capacity consolidation brought by recovered real estate sales and supply side reform. Besides, some major titanium dioxide plants are going to undergo equipment maintenance in January, which would help alleviate the market pressure of stocks.
Currently, China has annual titanium dioxide production capacity of about 3 million tonnes, more than needed, which has led to poor profitability and great losses of many titanium dioxide companies.
Some companies, especially those of medium and small sizes, have reduced or suspended production.
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