By late October, mainstream TiO₂ prices remained broadly stable, but weak downstream demand was widely acknowledged. Producers were also under growing pressure to ship orders, prompting some to become more active in securing new business. Compared with previous years, year-end sales efforts appear to have started earlier.

Looking back at the traditional peak season, market activity followed a strong start with a weaker finish. The price increases in September encouraged buyers to bring forward purchases and release some demand earlier than expected. However, this also left less room for additional purchasing activity in October.

As the market moves into November, producers are becoming more flexible in their sales strategies. Some have already adjusted their quotations and transaction conditions. Price differences between comparable grades have widened, while actual deals increasingly depend on order size, payment terms, and other commercial conditions. Overall shipment volumes remain limited.

Cost conditions are showing regional differences across China.

In southwestern China, maintenance at smelter-acid production facilities is expected to last around one month. This has pushed up sulfuric acid procurement costs in the Panzhihua area, increasing production costs for local TiO₂ manufacturers and adding to their operating pressure.

This highlights the ongoing balance between production costs and downstream demand. While raw material conditions vary by region, producers are also facing different levels of pressure depending on their sourcing arrangements and order situations.

Meanwhile, anti-dumping developments involving Chinese TiO₂ exports in markets such as India and Japan have added another layer of uncertainty to the international trade environment.

Outlook

According to Titanos industry analysts, the traditional peak season has passed, and the market has seen only one major round of price increases. Some producers have already become more flexible with their transaction terms, while price differences among suppliers have widened again.

Looking ahead, market developments will depend largely on the pricing policies of major producers and the changes in market sentiment before and after CHINACOAT 2026.

November may continue to see a cautious market, with ongoing price adjustments. Actual transaction terms will remain highly dependent on each order, particularly its volume and payment structure. Downstream purchasing activity, producer pricing strategies, and developments surrounding CHINACOAT 2026 will be key factors to watch.