Titanium Ore:

This week, the price of titanium ore in the Panzhihua-Xichang region saw a slight increase. Currently, the mainstream transaction price for 46% and 10% titanium ore from small and medium-sized manufacturers is 1580-1630 yuan/ton, the transaction price for 38% titanium ore (excluding tax) is 1050-1120 yuan/ton, and the price for 47% and 20% ore is 1800-2050 yuan/ton. Panzhihua-Xichang beneficiation plants are still operating below capacity. This week, large plants in Panzhihua restricted the outflow of raw ore, leading to a tight supply of raw materials in the market. Upstream producers intend to raise prices, while small and medium-sized miners are mostly adopting a wait-and-see approach. There is limited spot supply of 10% ore in the market, and beneficiation plant quotations remain firm, with some prices rising slightly. Downstream titanium dioxide production is high, but cost pressures remain prominent, and the market is in a supply-demand game. Next week, some beneficiation plants in Panzhihua are expected to resume production, and market prices will gradually become clearer. A slight increase in some titanium ore prices is expected.

The imported titanium ore market remains stable. As of now, the CIF price for Mozambique titanium ore is $280/ton, the FOB price for Vietnamese ore is $280-295/ton, the CIF price for Australian ore is $275-295/ton, and the mainstream ex-factory price (including tax) for Nigerian 48-50 grade ore is 1700-1800 yuan/ton. Recently, imported ore prices have remained stable. Although new downstream production capacity is gradually being released, cost factors are putting pressure on imported ore shipments. Nigerian sulfuric acid process titanium ore supply has decreased due to the recent dry season, and miners are maintaining firm high prices. In the short term, the supply and demand of titanium ore in the market are basically balanced, and market prices are expected to remain stable.

Titanium Slag:

 The high-titanium slag market remained weak and stable. In January, the bidding price for 90% low-calcium magnesium high-titanium slag from northern enterprises was 5400 yuan/ton, unchanged from the previous month. This month, the bidding price for 87% high-titanium slag/rich titanium material in the north decreased by 50 yuan/ton to 5150 yuan/ton. High electricity prices in Liaoning Province and high costs for raw materials and auxiliary materials have led to continued losses for slag plants, resulting in persistently low market prices and weak market sentiment. The number of operating plants has been decreasing year after year, and the market remains sluggish.

Acid Slag Market:

Prices are currently stable. As of now, the ex-factory price (including tax) in Yunnan is 3750 yuan/ton, and in Sichuan, the ex-factory price (including tax) is 4100-5750 yuan/ton. Demand for acid slag is weak, downstream demand is strong, and due to significant cost pressures, some enterprises intend to raise prices. There is a lot of bargaining between supply and demand. Current production volume is low, and acid slag prices may rise slightly in the future.

Titanium Tetrachloride：

The price of titanium tetrachloride rose this Thursday, by 50-200 yuan/ton, currently ranging from 4800-5550 yuan/ton. Supply is tight in Henan and Liaoning provinces. Northern markets are seeing stockpiling ahead of the Spring Festival, resulting in low factory inventories. Coupled with high costs, some factories have raised prices for new orders this week.

Sulfuric Acid：

The sulfuric acid market remained generally stable this week, with some individual acid prices experiencing a 100 yuan/ton correction. As of now, the delivered price of 98% smelting acid in Guangxi is 1100-1250 yuan/ton, in Yunnan it is 900-960 yuan/ton, and in Anhui it is 1020-1200 yuan/ton. Due to the continued implementation of industry supply guarantee policies, sulfur-based acid prices in many regions have seen significant declines. Currently, smelting acid inventories are low, supported by existing orders. Exports are only maintaining long-term contracts, leading to a more abundant supply of sulfuric acid in Guangxi and other regions. In the northern market, acid prices in Shandong province have decreased, while prices in surrounding areas have remained relatively stable. However, due to higher acid prices in Hubei and Henan provinces, prices in these areas have increased, leading to an influx of acid from surrounding regions and altering the supply-demand balance. Overall, demand from downstream phosphate fertilizer and chemical industries remains stable, with companies primarily purchasing only what they need. Differences persist between the northern and southern markets. In the future, northern acid prices may see slight decreases due to lower-priced supplies. In the southern market, supply remains tight due to maintenance shutdowns at some major acid plants, resulting in less pressure to sell. Sulfuric acid prices are expected to remain high in the short term, with some prices fluctuating within a narrow range.

Titanium Dioxide:

The titanium dioxide market remained relatively stable after the holiday. This month, distributors raised prices for LB sulfuric acid process titanium dioxide by 200 yuan/ton. Currently, the ex-factory price (including tax) of rutile titanium dioxide in China is 12,600-13,600 yuan/ton, and the ex-factory price (including tax) of anatase titanium dioxide is 12,000-12,400 yuan/ton. Titanium dioxide production has been high recently, with four new companies scheduled for maintenance this month, keeping overall market operating rates high. Raw material costs of titanium ore and sulfuric acid remain high, keeping new order prices firm, but downstream buyers are cautious, leading to some pressure on new orders this week. The foreign trade market is performing well, with many companies supported by export orders, resulting in relatively low factory inventory pressure for the time being. The market is generally inclined to maintain stability in the short term, with some prices negotiated on a case-by-case basis. However, domestic demand is weak, and some market participants' sentiments have shifted, potentially leading to a gradual increase in factory inventory pressure in the later period, resulting in a strong wait-and-see attitude in the titanium dioxide market.