Domestic titanium dioxide companies raised their quotations again in March under cost pressure, with most manufacturers following suit. Companies were mainly focused on fulfilling previous orders, while new transactions remained limited and the higher quotations have yet to see significant volume. Influenced by the continued rise in sulphuric acid prices, quotations remained firm, and the market was adopting a wait-and-see stance.
Domestic titanium slag plants continued to operate at low operating rates this month, with most companies actively fulfilling long-term contract orders and receiving few new inquiries. Overall, the titanium slag market is expected to remain stable in the short term.
In the Panxi ilmenite market, inquiries remained quiet and new orders sluggish. Despite tight raw material supply, prices softened as downstream titanium dioxide producers, under pressure from high sulphuric acid costs and production losses, remained cautious and pushed for price reductions. The market is expected to remain weak in the short term.
Key Market Developments in March 2026
- On 28 Feb., 2026, Goldsky Titanium and Western Superconducting released its 2025 annual performance brief.
- On 25 Feb., 2026, LB Group's subsidiary Xiangyang Titanium partially resumed its sulfuric acid production line; On 3 March, LB Lufeng reached full-capacity production.
- On 22 March, 2026, the 100,000 t/a TiO2 coupling utilisation project (Phase III) of Sunward Fuquan was officially put into operation.
The USD/RMB exchange rate in this newsletter is USD1.00=RMB6.9236 on 2 March, 2026, sourced from the People's Bank of China.
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