Welcome to CCM's TiO2 China Monthly Report in July 2011.
A climate of unrest appears in China's economy, with 6.4% increase in CPI and 1.1% decrease in PMI in June 2011.
Premier Wen Jiabao called for intensified efforts to save energy and reduce emissions at a meeting on July 19, 2011. He added that China would press ahead with reforms of resource and environmental taxes, and adjust import and export duties to curb export of high energy-consuming and high-pollution products.
The shortage of titanium feedstock continues, due to output decline and great demand all over the world. In domestic market, titanium feedstock prices keep an uptrend.
China's TiO2 industry is undergoing a booming period, enjoying globally strong demand and rising prices. Henan Billions is one of the producers that have seized the opportunity. However, TiO2 prices become relatively stable in domestic market, due to weak demand in this slack season.
The coating industry in China sees great output growth this year, but its profit is seriously affected by high raw material cost.
Exchange rate in July 2011:
USD1=RMB6.47=EUR0.70
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