Titanium ore titanium dioxide market analysis in the first quarter of 2021

Titanium Ore

钛矿

2021 China titanium ore market prices continue to continue the upward trend. The main reasons for the price increase: First, the Feng Yuan due to the problem of row tailing Gaoliangping area is under-started, coupled with the impact of the Pan Steel recovery of titanium ore and other effects, the overall supply of titanium ore is tight. Second, some manufacturers during the Spring Festival overhaul, titanium ore supply reduced, and then by the two meetings and Yunnan biodiversity conference, Shandong, Hebei, Yunnan area start low. Third, titanium dioxide market prices continue to rise, the enterprise starts more than maintain full production and low inventory, according to Tuoduo data statistics, January-February 2021 China's titanium dioxide production totaled 598,000 tons, compared with January-February last year, an increase of 24%, the demand for titanium ore increased. At present, titanium dioxide manufacturers tight supply, titanium dioxide prices are expected to rise again, titanium ore price increase is less than the increase in titanium dioxide, titanium ore prices will continue to rise in the future.

2021年中国钛矿市场价格继续延续上涨趋势。价格上涨主要原因：一、丰源因排尾问题高梁坪地区开工不足，加之攀钢回收钛矿等影响，钛矿整体供应偏紧。二、春节期间部分厂家检修，钛矿供应减少，再有受两会及云南生物多样性会议影响，山东、河北、云南地区开工低位。三、钛白市场价格持续上行，企业开工多维持满负荷生产且库存低位，根据涂多多数据统计，2021年1-2月中国钛白产量共计59.8万吨，同比去年1-2月增长24%，钛矿需求增加。目前钛白厂家货源偏紧，钛白价格再存上涨预期，钛矿涨价增幅不及钛白涨幅，钛矿后期价格将继续上行。

Titanium dioxide

钛白粉

2021 titanium dioxide prices continue to rise momentum, and the magnitude is large, the year-to-date titanium dioxide ushered in a total of three rounds of price increases, a single range of 800-1500 yuan / ton, which rutile titanium dioxide prices from the beginning of the market price of 16,000 yuan / ton or so prices rose to the current 18,600 yuan / ton or so, the cumulative price increase of about 2,600 yuan / ton; prices continue to rise mainly because: First The main reasons for the continued rise in prices: First, the improvement of foreign epidemic, market demand is improving, market export orders continue to surge, domestic demand to maintain steady growth, manufacturers inventory tension; Second, some enterprises during the Spring Festival overhaul, the market downturn in the supply of titanium dioxide; Third, the main raw material titanium ore, sulfuric acid and other auxiliary material prices continue to rise, titanium dioxide business costs continue to increase; Fourth, the United States strong economic stimulus, the market price is more certain to promote. At present, titanium dioxide manufacturers still have more orders on hand, most of the orders scheduled to April-May, manufacturers inventory is still tight; titanium dioxide global market demand increased, titanium dioxide market prices will continue to remain high in the near future.

2021年钛白粉价格持续上涨势头，且幅度较大，年初至今钛白共迎来三轮涨价潮，单次幅度在800-1500元/吨，其中金红石型钛白价格从年初的市场价格16000元/吨左右价格上涨至目前的18600元/吨左右，价格累计上涨约在2600元/吨；价格持续上涨主要原因：一、国外疫情的好转，市场需求向好，市场出口订单依旧猛增，内需保持稳步增长，厂家库存紧张；二、春节期间部分企业有所检修，市场开工下滑，钛白供应减少；三、主原料钛矿、硫酸等辅料价格持续上行，钛白企业成本持续增高；四、美国强力的经济刺激，对市场价格更有一定推动。目前钛白厂家在手订单依旧较多，订单排单大多已到4-5月，厂家库存依旧偏紧；钛白全球市场需求增加，钛白粉市场价格近期也将继续保持高位。

Import and export data

进出口数据

In January 2021, China imported 278,500 tons of titanium ore, down 7.26% year-on-year and 7.32% YoY. In February, China imported 352,600 tons of titanium ore, up 41.45% YoY and 26.58% YoY. The total import from January to February was about 631,100 tons, up 14.83% YoY and up about 81,500 tons in total from January to February 2020.

2021年1月中国进口钛矿27.85万吨，同比降低7.26%，环比减少7.32%。2月中国进口钛矿35.26万吨，同比增长41.45%，环比增长26.58%；1-2月累计进口约63.11万吨，同比增长14.83%，同比2020年1-2月总量增长约8.15万吨。

The top three countries of titanium ore imports from January to February are: Mozambique, Vietnam and South Africa; accounting for 34%, 19% and 9% of total imports respectively.

其中1-2月钛矿进口数量前三名国家为：莫桑比克、越南、南非；分别占总进口量34%、19%、9%。

In January 2021, China exported about 106,700 tons of titanium dioxide, an increase of 3.67% year-on-year and 4.55% YoY; in February, China exported about 94,400 tons of titanium dioxide, an increase of 32.58% year-on-year and a decrease of 11.49% YoY; from January to February, the cumulative export was about 211,100 tons, an increase of 15.50% year-on-year and an increase of 2.70% compared with the cumulative export from January to February 2020 million tons.

2021年1月中国钛白出口约10.67万吨，同比增长3.67%，环比增长4.55%；2月中国钛白出口约9.44万吨，同比增长32.58%，环比降低11.49%；1-2月累计出口约20.11万吨，同比增长15.50%，同比2020年1-2月累计出口量增加2.70万吨。

Among them, the top three countries of titanium dioxide exports: India, Brazil, South Korea; accounting for 13%, 9%, 7% of total exports, respectively.

其中钛白粉出口数量前三名国家为：印度、巴西、韩国；分别占总出口量13%、9%、7%。

With the improvement of the global epidemic, titanium dioxide demand rose, titanium dioxide demand will continue to maintain optimistic trend. While domestic titanium dioxide prices continue to be high, the domestic titanium dioxide part of the export price will also be under pressure.

随着全球疫情好转，钛白需求上升，钛白需求将继续维持乐观态势。而国内钛白价格持续高位，国内钛白部分出口价格也将有所承压。