In February 2025, the domestic TiO2 market experienced a noticeable upward shift. After the Spring Festival holiday, the market maintained the price momentum from the previous month, despite a sluggish recovery in downstream demand. Several TiO2 manufacturers took the lead by raising prices, with new market prices holding firm. This price increase was primarily driven by rising raw material costs such as titanium concentrate and sulfuric acid. Additionally, many companies found their order books gradually filling up post-holiday, with reduced stock pressures, further boosting confidence in the market.
By mid-to-late February, leading TiO2 enterprises began announcing price hikes, and other manufacturers quickly followed suit. The domestic price increase averaged USD 41.85/t, while foreign trade prices rose by about USD 50/t. As a result, the TiO2 market is now operating smoothly, with overall optimism gaining traction in the industry.
Key Market Dynamics:
- Titanium Slag: The price of high titanium slag saw a decline compared to pre-holiday levels. Due to weak market prices and rising production costs, several high titanium slag enterprises delayed their resumption of operations, resulting in continued low market supply. Acid slag producers also reported significant cost pressures, limiting their production.
- Ilmenite: The ilmenite market remained relatively stable, with most miners processing orders placed before the holiday. Although there was an uptick in new order inquiries, transactions remained sluggish due to price stagnation. In the Panxi region, ilmenite prices increased post-holiday, causing a slight adjustment in quotations in various locations. However, downstream buyers were still pressing for price reductions, leading to a standstill in final agreements.
Price Overview for Major Titanium Products in China – February 2025:
| Product | Region | USD/t | RMB/t | MoM Change |
|---|---|---|---|---|
| Titanium slag (Grade 73%-74%) | Yunnan Province | 640.88 | 4595.11 | -1.18% |
| Titanium slag (Grade 73%-74%) | Sichuan Province | 805.77 | 5777.37 | -1.58% |
| Titanium slag (Grade 90%) | Yunnan Province | 924.44 | 6628.23 | -1.07% |
| Titanium slag (Grade 92%) | Yunnan Province | 968.55 | 6944.50 | +0.64% |
| Titanium slag (Grade 92%) | Liaoning Province | 982.65 | 7045.60 | +2.11% |
| Ilmenite (Grade 40%-46%) | Sichuan Province | 320.22 | 2295.98 | -1.35% |
| Ilmenite (Grade 45%-47%) | Yunnan Province | 268.73 | 1926.79 | -1.16% |
| Ilmenite (Grade 50%-52%) | Guangxi Region | 353.08 | 2531.58 | -5.67% |
| Titanium dioxide (Anatase) | Central China | 1866.40 | 13382.09 | +0.70% |
| Titanium dioxide (Rutile) | Central China | 2135.60 | 15312.25 | +0.59% |
Note: The table above shows price changes for various titanium products, with some significant increases observed in the rutile titanium dioxide sector across different regions.
