Asian titanium dioxide prices are gaining momentum

According to the recent news of the British "Anxun Chemical Weekly", the second quarter Asian titanium dioxide contract negotiations may be inspired by the recent rise in the spot price of Chinese titanium dioxide. Although the current Asian titanium dioxide contract negotiations in the second quarter are still in the early stages, some contract buyers have received higher offers from major producers. The offer is $100-150 per ton higher than the first quarter. The data shows that the Asian titanium dioxide contract price in the first quarter is 2650~2800 US dollars / ton.

Recently, due to exchange rate fluctuations, Chinese titanium dioxide producers have raised the spot price of titanium dioxide exports. The strong exchange rate of RMB against the US dollar resulted in lower export earnings of Chinese titanium dioxide than domestic market sales. Data show that on March 15, the spot price of titanium dioxide exported by China was 2250~2400 US dollars/ton, up 3.3% from the beginning of February.

Previously, as market participants returned to the spot market to replenish stocks, the market price of titanium dioxide rose after the Spring Festival. At the beginning of 2019, as the spot price has been steadily declining since the second half of 2018, Chinese titanium dioxide traders and distributors kept their inventories at a low level to reduce losses.

Chinese titanium dioxide producers said, “International suppliers will increase their second-quarter quotations to maintain a premium relative to Chinese exports.” Some Asian buyers are cautious because of fears that China's spot prices may rise further, and some of them hope to end negotiations on the second quarter contract as soon as possible.

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