The traditional September peak season is starting to show some strength.

On September 11, LB Group announced a USD 100/ton increase in its international TiO₂ prices, prompting several other producers to follow. Market sentiment has shifted firmly toward higher prices.

The price announcements have strengthened producers’ confidence in a rebound, with actual increases now reaching around USD 100/ton in some cases. Orders are picking up, production schedules are getting fuller, and shipments are moving faster as inventory turns over more quickly.

What's Actually Pushing This

The latest round of price increases is being supported by both costs and supply.

Upstream prices for sulfuric acid, sulfur and titanium feedstocks have continued to rise, while the industry has been operating under significant cost pressure for an extended period. At the same time, several production lines are undergoing maintenance and output has been reduced. Spot inventories remain low, while export orders are recovering. These factors are giving producers stronger reasons to hold firm on prices.

Suppliers want to stop the fall and raise prices. Demand side has both essential restocking and bottom-fishing purchases. Both are pushing the market up.

This leaves the market with two clear characteristics: peak-season orders are genuinely increasing, but confidence in demand later in the year remains limited.

The Price Trend Is Changing

The price trend has shifted from the previous pattern of “stability at the lower end and declines at the higher end” to “testing higher prices at the lower end while higher prices hold steady.”

The price gap between producers continues to narrow.

LB Group’s price increase has also provided a clearer positive signal from the major producers. Some producers have stopped taking new orders at previous prices, while others have already implemented two rounds of small increases.

Producers are moving faster than they did during the previous round of price cuts. Most are taking a cautious approach, testing the market with relatively small increases rather than making aggressive moves.

The direction is becoming clearer. A broader consensus to push prices higher has already formed.

Outlook

According to Titanos’ Titanium industry analysis, the September peak season is showing some real signs of improvement. Orders on the supply side have increased, and production schedules are becoming increasingly full. With more orders waiting to be shipped, the pressure on producers is gradually shifting from securing orders to fulfilling them.

However, demand is still not particularly strong. There is also a risk that some demand has simply been brought forward, which could leave the market quieter from mid to late October.

The current market can be summed up simply:

High costs are limiting how far prices can fall, while weak demand is limiting how far they can rise.

In the short term, peak-season orders are supporting the market. A few producers have started to raise prices, while most are still watching the market closely. The next pricing moves from major producers will be particularly important.

Actual transaction prices remain negotiable case by case, depending on the order, volume, payment terms and other commercial conditions.

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