For the Quarter Ending June 2021
Titanium Dioxide prices increased consistently throughout the quarter, due to firm demand from downstream segments in North America region. Firm offtakes from downstream manufacturers increased the global demand for Titanium Dioxide, while the supply remained tight throughout the quarter. Some major manufacturers increased their product prices in the meantime to improve their margin, like Venator increased its Titanium Dioxide price by around USD 160/MT for Q3 2021 in North America region. Overall, prices hovered around USD 3485/MT till the end of June in USA for Anatase grade. In addition, manufacturers revealed that they have found that the demand has reached pre-pandemic level amid curtailed supply activities, which has been the major reason behind this price hike in the global market.
Titanium Dioxide market encountered mixed sentiments during this quarter in APAC region, which varied country over country. In China, prices of Titanium Dioxide increased effectively in the domestic market during this quarter, while by the end of the quarter manufacturers expected a fall in prices as the supply for feedstock showcased some improvement. On the other hand, In India, prices tumbled in May, due to sudden upsurge in Covid cases in the country. As the pigment, paints and ink sector is the centre of all the demand for Titanium Dioxide, these segments faced devastation during this pandemic mayhem in India. Therefore, prices of Titanium Dioxide reached USD 3424/MT and USD 3001/MT for Rutile and Anatase grade during last week of June in India.
Prices of Titanium Dioxide increased effectively in European region, backed by firm demand from downstream sector during Q2 2021. Major global suppliers revealed that they observed huge queries for Titanium Dioxide majorly from Europe and Asia, while facing global supply shortage. In addition, a global player increased the prices for Titanium Dioxide by USD 200/MT in Europe this quarter, w.e.f. Q3 2021.
For the Quarter Ending March 2021
Despite of disrupted production activity across the US gulf coast region, demand for Titanium Dioxide (TiO2) remained firm during Q1 2021. Cost of Titanium Dioxide (TiO2) in the global pigment industry was consistently rising owing to firm demand from the downstream industries and insufficient product availability. Prices for Titanium Dioxide (TiO2) Anatase grade rose consistently across USA, showing a rise of 2.27% from January 2021 to March-end and were settled at USD 3150/MT towards the end of the quarter.
The Asian market encountered a steep rise in prices of Titanium Dioxide (TiO2) due to high demand and low stock availability. In the Chinese market, prices rose aggressively and reached USD 2875/MT during March end, above around USD 2015/MT during January 2021. Some traders quoted even higher than the anticipated prices, surging to nearly 3 year high in the domestic market. Meanwhile, in the Indian market, similar scenario was observed where prices followed a steep rise of 8% for the Rutile grade TiO2 from January till March end. The rise was attributed to high demand from the domestic paints and coatings sector and premium cargoes supplied from China.
The European Titanium Dioxide (TiO2) market witnessed firm demand from the downstream pigment sectors, amid tight supply situation due to disrupted production in unfavourable weather conditions. Similar to other regions, supply for Titanium Dioxide (TiO2) remained inadequate, as the cargoes were running late due to congestion across the Europe-Asia trade routes and high freight & container cost providing further push to the prices of cargoes, which were already running bullish.
For the Quarter Ending September 2020
Coronavirus related shutdowns in the first half of the quarter caused force measures at some of the small-scale ilmenite plants in China and India, eventually leading to an exacerbation of the supply crisis for Titanium. The snug supply situation of Titanium Dioxide was extended till the end of the quarter as few players were heard holding the cargoes in anticipations of an exceptional rise in its seasonal demand. In India, buyers adopted a wait and see approach amid concerns over uncertainty in demand pattern after the second wave of infections by the end of the September. Whereas producers in China were heard operating at optimum rates even when the export orders were low in July. Price of Titanium Dioxide in India settled at USD 2888 per MT, showcasing a fall in September. Demand in India throughout the quarter fluctuated in a narrow range, especially in the latter half of September as an aftereffect of the second round of lockdown in several parts of the country.
Supply of Titanium Dioxide across North America remained sufficient as producers were seen continuously adjusting their production rates in line with the volatility in the demand pattern. In the final week September, buzz of upcoming Titanium Dioxide facility by Chemours worth USD 86 million in Georgia further eased the concerns over supply pressure. Demand majorly picked up from the construction sector by September however, resurgent cases of virus slowed the expected revival in demand. Although, due to vast decline in market fundamentals of some of the end-use segments, prices of Titanium Dioxide by quarter-end significantly faded. Delay of several commercial projects followed by slow recovery in downstream automotive segment were observed as prime factors for the extended recovery curve.
Demand for Titanium Dioxide in the European region considerably revived from better offtakes heard across the furniture, construction and industrial sector with respect to Q2, after sentiments were raised post a lift in containment measures. DIY activities witnessed significant increment as people took more home renovation and construction activities with extended period of lockdown. The supply also remained supple with resumption in exports from China since the later half of Q2 in 2020.