LONDON, June 9, 2016 /PRNewswire/ --
In May 2016, China's TiO2 price continues to move up. Successive leading domestic TiO2 manufacturers have raised their product prices by about USD77.44/t (RMB500/t). CCM believes that the recovery of the domestic real estate market has been the key supporting factor behind the price rises and the recovering global market is also conducive to the recovery of the market.
Market dynamics of Titanium products in May 2016
The market price of ilmenite remains high, mainly because ilmenite manufacturers hold optimistic attitudes towards the future market. However, there have been few new orders this month. In Sichuan Province, influenced by the increasing prices of TiO2 and 38%-40% titanium concentrate, market conditions of ilmenite have improved.
- Titanium slag
The price rise of TiO2 has boosted the price of acid dissolved titanium slag. However, Market conditions of high titanium slag are essentially stable and both market price and operating rate remain low because operating rate of the titanium tetrachloride industry remains stable with no increase in the industry's demand for high titanium slag.
Imports and exports of TiO2
In March 2016, China's import & export volumes of TiO2 grew significantly, showing signs of recovery, mainly because the majority of domestic TiO2 manufacturers and dealers resumed operations after China's Lunar New Year.
In May 2016, Guangdong Huiyun and Zhejiang Shenji applied for entry into the New Third Board.
On 20 May, 2016, Chemours announced that its 200,000 t/a TiO2 project in Altamira, Mexico had begun production. This highly effective and low-cost new production line is expected to help Chemours further improve its TiO2 production efficiency.In March 2016, China's import & export volumes of TiO2 grew significantly, showing signs of recovery. This was mainly because the majority of domestic TiO2 manufacturers and dealers resumed operations after China's Lunar New Year. The gap between import volume and export volume widened from 22,189 tonnes in Feb. to 35,422 tonnes, while the gap between import price and export price narrowed from USD860/t to USD621/t.
In March 2016, China recorded a MoM growth in its import volume of ilmenite, with import volumes from India and Mozambique growing the most markedly. The domestic ilmenite market began to show signs of recovery and operating rates in Sichuan and Yunnan provinces rose slightly.
In May 2016, the TiO2 price has continued to climb in China. Successive leading domestic TiO2 manufacturers have raised their product prices by about USD77.44/t (RMB500/t). Boosted by the TiO2 market, the market prices of acid dissolved titanium slag and ilmenite are also continuing their upward trends. Market conditions for high titanium slag are essentially stable.
On 20 May, 2016, Chemours announced that its 200,000 t/a TiO2 project in Altamira, Mexico had begun production. This highly effective and low-cost new production line is expected to help Chemours further improve its TiO2 production efficiency. Since its spinoff from DuPont in 2015, Chemours has recorded a slide in performance due to depressed market conditions. To the company's credit, it has boldly made the decision to vigorously adjust its industrial structure.
In Q1 2016, Henan Billions successfully achieved growth in both revenue and net profit, mainly due to a significant increase in sales volume of TiO2 over the reported period. Given that the TiO2 market is presenting an upward trend, and Henan Billions is further enriching its business profile and expanding its market shares, CCM believes that the performance of Henan Billions will improve later this year.
In 2015, Jilin GPRO's net profit rocketed by 214.60% YoY, surpassing "RMB100 million". CCM believes that efficient cost control and increasing market shares in overseas markets were the key driving factors behind the significant growth in profit the company made in the face of depressed market conditions.
On 9 May, 2016, Guangdong Huiyun officially applied to enter the New Third Board. CCM believes that entering the New Third Board will help Guangdong Huiyun to gain capital resources through various channels.
At the end of April 2016, the annual titanium meeting namely Military Industrial Materials Supply Chain Management and Titanium for Petroleum Seminar was held in Beijing. From the meeting, CCM learnt that China's titanium sponge industry has been recovering since Jan. 2016, seeing slight increases in both output and market price.
On 29 April, 2016, AkzoNobel announced that it has started production at its largest decorative paint plant in China. This will enable AkzoNobel to respond to the increasing demand for decorative paints in Western China. CCM has found that in recent years, under the influence of policies such as The Great Western Development and the Belt and Road Initiative, the western Chinese market has become increasingly attractive to international paint magnates.
On 10 May, 2016, the CNCIA and the SUES announced their plans to establish a coating industry university together. The university will design its majors around the characteristics of subindustries of the coating industry so as to cultivate talent for the industry.
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