At the beginning of 2025, the titanium dioxide industry has been making frequent moves, and significant changes have occurred in the market landscape. In January, several enterprises, including Longbai Group and CNNC Titanium White, took the lead in issuing price increase letters, kicking off the first round of price adjustments. The prices of various domestic titanium dioxide models were raised by 300 – 500 yuan per ton, and the international market prices increased by 50 – 100 US dollars per ton. Entering February, more than twenty enterprises collectively increased the prices of titanium dioxide, setting off the second price hike within the year. The domestic price increased by 300 yuan per ton on average, and the international price rose by 50 US dollars per ton.
This double – round price increase is mainly attributed to multiple factors. The rising raw material prices are a key factor. Before the Spring Festival, the price of titanium concentrate increased by 100 yuan per ton, and in February, the price rose by another 100 yuan per ton. Meanwhile, the sulfuric acid market is booming with continuous price hikes, leading to a continuous increase in the production cost of titanium dioxide. In terms of supply, some titanium dioxide producers in certain regions have experienced production restrictions and suspensions, with a decline in the operating rate and a slowdown in inventory growth, resulting in a decrease in the overall market supply. On the demand side, although the downstream industries have not fully recovered, the stocking and hoarding demands during festivals such as the Spring Festival have increased, providing some support for prices. Low – priced titanium dioxide products are also quite popular in overseas markets, and exports have driven some of the demand. In addition, regions such as the EU and India have imposed anti – dumping duties on Chinese titanium dioxide, forcing enterprises to raise prices to maintain profit margins.
However, the industry as a whole still faces challenges. Due to the high upstream raw material costs, even after the two – round price hikes, the titanium dioxide industry as a whole is still in a loss – making state. Downstream enterprises are mostly taking a wait – and – see attitude towards price increases, and actual transactions are difficult to expand in volume, bringing uncertainty to the sustainability of price increases. Regarding the subsequent price trend of titanium dioxide, in March, as the phosphate fertilizer market enters the peak season and some regional sulfuric acid plants enter the maintenance period, the price of sulfuric acid is expected to rise. The price of titanium concentrate is also expected to remain firm with a slight increase. The stable and rising raw materials can provide certain price support for the titanium dioxide market. However, although the demand in March has increased to some extent, the growth rate is limited, and anti – dumping policies of various countries are frequent. It is expected that downstream enterprises will still mainly purchase based on rigid needs. Although there is room for the price of titanium dioxide to rise, it is difficult to form an obvious upward trend.