|
You have recieved CCM''s monthly highlight of TiO2 China Monthly Report as we think it might be informative for you. If you do not wish to receive it, click Unsubscribe Me; To receive more insights and dynamics of CCM's consultancies, click Subscribe More. To update your contact details, contact us.
|
 Headline News
|
 Pangang to recapitalize Dongfang Titanium for absolute holding
On 23 Dec. 2011, Pangang Group Steel Vanadium and Titanium Co., Ltd. (PGVT) announced that its wholly-owned subsidiary Titanium Industrial Corporation of Pangang Group (Pangang Titanium) will add capital and expand shares in Panzhihua Dongfang Titanium Co., Ltd. (Dongfang Titanium).
The expansion of capital and stocks aims to support Dongfang Titanium's new sulfate rutile TiO2 project, which will expand the company's TiO2 production capacity from 40,000t/a to 100,000t/a. The new project needs an investment of USD71.4 million in an estimate. (Please refer to TiO2 China Monthly Report Vol.4 Issue 06.11).
By 31 March 2011, Pangang Titanium held 49% of Dongfang Titanium's total shares with an investment of USD15.6million, and Miyi County An'ning Iron & Titanium Co., Ltd. (the An'ning Company) held the left 51% with an investment of USD16.2 millon.
After discussion with Dongfang Titanium, Pangang Titanium decides to acquire another 97 million shares with capital increase (no more than USD27.0 million), and the An'ning Company wants to acquire another 3 million shares. After the completion of the expansion of capital and stocks, Pangang is expected to hold 65% of Dongfang Titanium's total shares, while the An'ning Company will hold the left 35%. As a result, Dongfang Titanium will be absolutely held by Pangang Titanium.
|
Newsletter Highlight
|
>> China's sluggish international trade of TiO2 continues in Nov.
>>2011, mainly owing to the weak demand.
>> Pangang plans to recapitalize Dongfang Titanium, in order to strengthen TiO2 business.
>> East European largest TiO2 producer Crimea Titan set a new production record in 2011, backed by the strong demand.
>>Vietnam's titanium ore export ban might be hindered by its slow progress in titanium ore deep processing development.
>>Australian resource company Globe Metals and Mining will expand ilmenite production in Mozambique.
>>Maydos starts coating e-commerce in Dec. 2011, aiming to provide its distributors and customers with more value.
>> Carpoly recognized as National Enterprise Technology Center, which in turn will helps its development.
>>Valspar opens a R&D center in China, in order to seize opportunities in the growing Asia-Pacific market.
|
Editor's Note
|
 Welcome to TiO2 China Monthly Report 1201; this is Vol. 5, issue 1 in 2012.
China's GDP reached USD7.5 trillion in 2011, up 9.2% year on year. It suggests that China's economy could avoid a hard landing despite falling demand from key export markets in the US and Europe. Meanwhile, the average CPI was 5.4% in 2011, surpassing the target of 4% set at the beginning of 2011.
China's manufacturing PMI was 50.3% in Dec. 2011, with a decreasing product inventory index, which reflects the production suspension across the country during the Spring Festival break.
The construction of China's affordable housing will face growing pressure in land and funds, though the target has been lowered in 2012. What's more, the housing price decline shall continue this year, putting more pressure on Chinese real estate industry.
Experts think that the demand for TiO2 in China will become stable in 2012, with prices in an uptrend—without any sharp ups and downs that showed in last year.
In 2011, the mining company of Pangang Group produced 497.6 thousand tonnes of titanium concentrate ore, surpassing its annual production target (480kt). Nevertheless, domestic supply of titanium feedstock still lagged far behind customers' demand in 2011. The tight supply is estimated to be more serious in 2012.
|
|
|
CCM provides clients with Data and Primary Intelligence about China & Asia Market in Crop Protection, Life Science & Health Care, Chemicals, Materials and Energies, etc. CCM's mission is to bring value to clients with accurate, complete and timely information and services in forms of Newsletters, Reports, Import/Export analysis, Benchmarking data, Buyer/Seller data and a comprehensive suite of customized consulting services. For more information, please visit http://www.cnchemicals.com
|
