Rio Tinto's titanium slag output in the second quarter fell 22% year-on-year in 24 years

Titanium slag output decreased by 22% compared with the second quarter of 2023, mainly due to the weak market environment. RTIT Quebec operations are undergoing furnace rebuilding, but we still have six of our nine furnaces in Quebec and three of our four furnaces at Richards Bay Mining Company (RBM).

Due to the weak real estate market, potential demand for titanium dioxide raw materials remains weak, especially from paints and coatings. Downstream inventories are increasing after restocking in the first quarter and early second quarter. The European Commission has imposed temporary anti-dumping duties on Chinese titanium dioxide importers. A proposal to impose a nearly 40% tariff on Chinese titanium dioxide could reduce exports to the EU, but is likely to push more Chinese exports to other markets, especially Asia. Meanwhile, temporary factory overhauls in May and June resulted in lower raw material consumption.