LB Group Co., Ltd. announced to raise TiO2 prices in late July 2023, followed by many other TiO2 enterprises, marking the fourth round of price rise in domestic TiO2 market this year. However, given the depressed domestic economy, TiO2 demand was still weaker than expected in the traditional peak season and the actual prices mainly stayed steady in Aug. 2023.
According to statistics, the overall output of China's TiCl4 went up and then dropped in Jan.–July 2023. During this period, China produced 928,150 tonnes of TiCl4, slightly inching up by 0.22% YoY.
Important market dynamics in Aug. 2023
On 15 Aug., 2023, CNNC Hua Yuan Titanium Dioxide Co., Ltd. announced to purchase shares of two phosphorus chemical enterprises to improve new energy industrial layout.
Henan Billions New Materials Co., Ltd., a holding subsidiary of LB Group Co., Ltd., summited the self-acceptance environmental information of its 100,000 t/a chloride-process TiO2 expansion project on a relevant platform on 3 Aug., 2023.
On 28 July, 2023, the ground-breaking ceremony of the titanium whole industrial chain integration project—basic material industrial park was held in Yishui County, Linyi City, Shandong Province.
The USD/RMB exchange rate in this newsletter is USD1.00=RMB 7.1283 on 1 Aug., 2023, sourced from the People's Bank of China.
All the prices mentioned in this newsletter will include the VAT, unless otherwise specified.
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