The domestic TiO2 market was stable before the Spring Festival with thin trading as downstream restocking concluded. High raw material costs raised expectations of post-holiday price increases. During the holiday, operating rates diverged among producers. After the holiday, supported by high costs and external demand, many companies announced price hikes, such as Yibin Tianyuan Group Co., Ltd. raising domestic prices by USD71.74/t (RMB500/t) and export prices by USD100/t. The market ended steady with ample supply, and future prices will depend on demand recovery and actual implementation of the price increases.
The domestic titanium slag market saw regional divergence. Producers of acid-soluble slag and high-titanium slag in Yunnan Province mostly suspended production for the Spring Festival. In contrast, enterprises in Inner Mongolia Autonomous Region and Liaoning Province maintained normal operation during the holiday due to cold weather. Quotations stayed firm amid high costs.
Before the Spring Festival, the domestic titanium ilmenite market was stable. Downstream restocking was mostly completed, with thin new orders and quiet trading. During the holiday, the market was closed with weak supply and demand. After the holiday, the market remained stable with a wait-and-see attitude. Downstream inquiries recovered slowly, but demand is expected to rebound as factories resume production. The market is recovering gradually under stable and cautious sentiment.
Key Market Developments in February 2026
- On 29 Jan., 2026, Gpro Titanium released its 2025 performance forecast; On 10 Feb., its subsidiary Nanjing Titanium Dioxide temporarily suspended production.
- On 30 Jan., 2026, Annada released its 2025 annual performance forecast.
- On 31 Jan., 2026, Lubei Chemical issued a warning regarding its 2025 annual performance.
- On 11 Feb., 2026, LB Group to acquire 5.46% stake in Yunnan Guotai for USD33.57 million.
The USD/RMB exchange rate in this newsletter is USD1.00=RMB6.9695 on 2 Feb. 2026, sourced from the People's Bank of China.
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