This year, the global economy is under great pressure. China's real estate industry is in a period of deep adjustment, and the data performance is poor: According to data from the National Bureau of Statistics, from January to September, the national real estate development investment was 7.868 billion yuan, a year-on-year decrease of 10.1%. It has been in a double-digit decline for five consecutive months, but it narrowed by 0.1 percentage points compared with the decline from January to August, basically forming a bottom-building trend. 1-9 The monthly cumulative sales area growth rate was-17.1% year-on-year, and the cumulative sales amount growth rate was-22.7%, both of which were narrowed by 0.9 percentage points from the previous month.
Under the influence of the general environment, the overall titanium industry will show a steady and declining trend in 2024. The gold, September and silver peak season will not be prosperous, and demand will drag the market price of titanium dioxide to continue to decline. As of the end of October, the price of titanium dioxide has dropped by 800 yuan/ton compared with the beginning of the year. Compared with the peak of the market price this year, the price has dropped by 2200 yuan/ton. The price rose from January to March, and began to decline rapidly in April. It consolidated weakly from July to August, and then the price has shown a slow downward trend.
The market demand in the peak season this year is poor. In addition, the market faced the impact of inspections by the central environmental protection team in October. The production of titanium dioxide enterprises in Panzhihua and Shandong has been affected. According to TDD-global statistics, 18 companies in the market began to reduce production or even stop production in October. The following table shows details of the company's production reduction:
According to TDD-global estimates, production will decrease by about 60,000 tons, and the overall month-on-month decrease is about 4%. Although output has gradually decreased this month and the export market has basically remained good, due to the impact of terminal demand, the operation of the titanium dioxide market is still sluggish. Among them, dragon enterprises have made two price adjustments at the beginning of the month and the end of the month. After the National Day holiday, other enterprises have basically followed the adjustment range of 200-300 yuan/ton; due to the impact of production costs, not many companies have made price adjustments at the end of the month, and only some companies have adjusted the range of 100-200 yuan/ton. Entering November, the market has also entered the traditional off-season. The pressure on titanium dioxide shipments is still high. Although some companies continue to reduce production, the overall production and marketing relationship in the market is still difficult to balance. In addition, the order price of major terminal manufacturers dropped by 200 yuan/ton in November. The overall market is relatively bearish in the market outlook, and the market is expected to continue to maintain a weak trend from November to December.
Since the beginning of the year, there has been no significant decline in raw material titanium ore as a whole. Among them, the prices of small and medium-sized miners have dropped by about 50 yuan/ton compared with the beginning of the year. However, the price of Panxi Dachang has been higher than the prices of small and medium-sized miners. The price has dropped by 100 yuan/ton compared with the beginning of the year. The decline in the overall price of imported mines has not been significant compared with the beginning of the year; The price of sulfuric acid in Sichuan has increased by 100 yuan/ton compared with the beginning of the year. The price of 98% smelting acid in Shandong has increased by 200-300 yuan/ton compared with the beginning of the year. The cost of titanium dioxide raw materials is under great pressure. At present, market demand is still weak. Due to cost and inventory pressure, construction is expected to continue to decline in the later period.
