Welcome to CCM International's TiO2 China Monthly Report 1110.
China saw some improvements in its economy last month. Its manufacturing PMI rose by 0.3% to 51.2 in Sept. 2011 compared with that in Aug. Meanwhile, its CPI growth rate fell to 6.1%, showing a slowdown in growth for the second consecutive month.
In Q3 2011, China sees a 9.1% year-on-year increase in GDP, which is lower than the growth rates of 9.5% in Q2 and 9.7% in Q1 this year. It reflects China's economic growth has slowed down.
Domestic TiO2 prices slump in this month, with the mainstream prices for rutile TiO2 falling to USD2,830/t by mid-Oct. 2011. China's TiO2 producers worry about the profit growth of TiO2 in Q4, though many remain high growth in Q3 2011.
By the end of Sept. 2011, China has started building 9.86 million units of affordable housing, 98% of the amount planned for this year. In the building material industry, the architectural coating industry will continue to be the major beneficiary of these projects. However, the coating industry in China has entered an off-season now, which suggests the demand of TiO2 will be weaker.
Exchange rate in Oct. 2011:
USD1=RMB6.36=EUR0.73
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