Titanium Dioxide China Monthly Report 1601(12 issues per year)

Date: 2016-02

“In Nov. 2015, China’s export volume of TiO2 fell while the import volume increased month on month. The gap between import volume and export volume shrank from 36,271 tonnes in Oct. to 28,131 tonnes and that between import price and export price narrowed by USD37/t, from USD884/t to USD847/t.
In Nov. 2015, China’s import volume of ilmenite dropped slightly month on month, with import volume from India falling significantly, and import volume from Australia climbing markedly. The domestic output of ilmenite kept rising slightly month on month and most of the growth was concentrated in Sichuan Province.
Presently, in Jan. 2016, the TiO2 price has stopped declining and begun to climb slightly in China even though demand from downstream markets has not improved. This is largely because successive international TiO2 magnates raised their product prices in late Dec. 2015. In stark contrast to that, prices of high titanium slag, acid dissolved titanium slag and ilmenite have all fallen this month.
On 30 Dec., 2015, Pangang Vanadium Titanium released an announcement, revealing that the company plans to build a new chloride grade TiO2 project with an investment of USD16.91 million (RMB110 million). The project is expected to be finished and put into trial production in late Dec. 2016. According to CCM, this will accelerate the transformation of the TiO2 production process in China from a sulfate process to a chloride process, but there is still a long way to go for China’s depressed TiO2 industry.
In Dec., 2015, Xu Xingrong, a member of the China National TiO2 Industry Panel, publicly declared that China had essentially mastered the production technology of chloride grade TiO2. Despite this, high environmental protection costs precipitated by a deficiency in chlorinated waste residue treatment preclude the further development of Chinese chloride grade TiO2 production.
On 21 Jan., 2016, Henan Billions released an announcement, stating that there were ongoing disputes with Ti-cons regarding a chloride grade TiO2 project and that the company had already received a notice of arbitration from Ti-cons. Henan Billions’ chloride grade TiO2 project has never quite gone smoothly, and has encountered many obstacles in its implementation. Such a dispute with its technical guide, Ti-cons, will be a great ordeal for Henan Billions, according to analysts CCM.
On 28 Dec., 2015, Shanghai OK-pigment, the company that set up the TiO2 e-commerce platform ok-61.com, joined the Technological Innovation Board newly launched by Shanghai Equity Exchange. Currently, the TiO2 industry is depressed and e-commerce platforms have begun to play an important role as supply and marketing platforms for the TiO2 industry thanks to their powerful functions of advertising and information integration as well as providing a convenient means to enquire and negotiate.
On 5 Jan., 2016, the WPCIA reported that global sales of coatings increased year on year in 2015, with architectural coatings and industrial coatings contributing the most and also that the Asia Pacific region remained the largest global consumer of coatings.
On 19 Jan., 2016, the NBS released national real estate data for 2015, showing that the scale of new construction projects nationwide had shrunk over 2015 and that investment in real estate had continued to fall, as it has now done for over 20 consecutive months. The demand for coatings is decreasing accordingly, but despite this the capacity of the coating industry has continued to expand at a surprising pace. Enterprises with low-end capacity, which are lagging behind in terms of production scale and technologies, will soon be forced out of the market.
Since 2012, Chinese titanium sponge enterprises have been operating at a low rate. Early in 2015, the severely unbalanced supply-demand relationship began to improve and the market managed to recover over the first half of the year, but fell later on as stagnant demand from downstream markets remained unchanged.”

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