China's economic data is improving, titanium dioxide exports have reached a new high, and market prices are stable with an upward trend.
Release time:
2019-06-05
China is the only major economy that has continued to rebound strongly amid the economic recession triggered by the COVID-19 pandemic, with the latest data highlighting China's global economic position. As the world's second-largest economy, China is the only major economy expected to achieve growth this year.
The latest data released by the National Bureau of Statistics of China shows that in November, China's manufacturing Purchasing Managers' Index (PMI), non-manufacturing business activity index, and composite PMI output index were 52.1%, 56.4%, and 55.7%, respectively, up 0.7, 0.2, and 0.4 percentage points from the previous month. All three indices are at their highest points this year and have remained above the critical point for nine consecutive months.
The General Administration of Customs of China announced on the 7th that in the first 11 months of this year, imports and exports increased by 1.8% year-on-year, reaching 29.04 trillion yuan, indicating a stabilization and improvement in China's import and export data.
China's titanium dioxide industry is closely related to the overall environment. Customs data shows that from January to October 2020, China's cumulative export volume of titanium dioxide was 999,776.4 tons, with an export volume of 110,236.39 tons in October. The cumulative export average price was 1,928.12 USD/ton, an increase of 21.81% year-on-year, setting a historical high for the same period.
Recently, nearly 20 domestic titanium dioxide producers, including Longmang Baili (002601), CITIC Titanium, Pangang Vanadium Titanium (000629), and Ningbo Xinfeng, announced price increases of 500-1,000 yuan/ton; foreign producers such as Chemours, Kronos, Tronox, and Venator announced price increases of 100-150 USD/ton.
Currently, there is a strong atmosphere of holding back sales in the industry, with a continued weakening of the willingness to sell at low prices. The favorable export conditions and the support for prices from the raw material side remain the main factors driving the market up. Currently, the price of raw titanium concentrate remains firm, and the downstream titanium dioxide sector is experiencing another wave of price increases, boosting miners' confidence in the price market.
As 2020 comes to a close and the New Year of 2021 approaches, the downstream stocking trend has started, market demand is supportive, and market prices are stable with an upward outlook, making it easier for prices to rise than to fall.
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Key words: tengxian titanium dioxide, titanium dioxide, rutile, titanium dioxide manufacturers, anatase titanium dioxide, titanium dioxide manufacturers, anatase titanium dioxide, rutile titanium white
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Address: Teng County, Guangxi Chemical Industry Zone