Quotations of TiO2 scarcely changed in March 2023. Fewer new orders were signed in domestic TiO2 market after the second round of price rise of TiO2 enterprises; midstream and downstream enterprises actively consumed inventories as most downstream enterprises had placed orders in advance. Ilmenite and sulphuric acid prices increase, shrinking profits of TiO2 enterprises; subsequently, TiO2 enterprises are likely to raise their prices but the number of new orders is forecast to be limited; thus TiO2 prices are anticipated to keep steady in the short term.
In March 2023, domestic TiCl4 prices scarcely changed and a price increase of USDUSD14.41/t–USD28.82/t (RMB100/t–RMB200/t) was seen in mid-to-late March. Titanium sponge prices lacked rising momentum as domestic market supply was sufficient. Market transaction prices of grade 1 titanium sponge mainly reached USD10,086.46/t–USD10,662.82/t (RMB70,000/t–RMB74,000/t) in this month.
Important market dynamics in March 2023
On 23 March, 2023, Shandong Lubei Chemical Co., Ltd. (Lubei Chemical) disclosed its 2022 annual report, showing that net profits dropped by 117.91% YoY to -USD12.72 million (-RMB88.30 million).
On 15 March, 2023, CNNC Hua Yuan Titanium Dioxide Co., Ltd. announced to adjust the capital invested in some projects from raised funds; besides, the company's subsidiary, Anhui Goldstar Titanium Dioxide (Group) Co., Ltd. suspended production due to an accident.
On 8 March, 2023, LB Group Co., Ltd. announced that its wholly-owned subsidiary, Shanghai Lomon Billions Technical Service Co., Ltd. acquired recognition of high-tech enterprise for the first time.
On 7 March, 2023, the Ecology and Environment Bureau of Yunfu City, Guangdong Province publicised the environmental impact assessment report of the FeSO4 comprehensive utilisation R&D pilot line project of Guangdong Huiyun Titanium Industry Co., Ltd.
The USD/RMB exchange rate in this newsletter is USD1.00=RMB6.9400 on 1 March, 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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