Titanium dioxide Prices, markets & analysis
For clear insight into regional Titanium dioxide markets, you need in-depth price reports direct from those regions.
That’s why ICIS maintains a network of locally based reporters, providing not just price assessments but market commentary and analysis.
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Titanum dioxide Asia, Europe & US Transcript
The titanium dioxide (TIO2) report is a global report with prices from Europe, the Americas and Asia. Weekly price assessments are given for delivered northwest Europe (NWE) in Euro per kilogram and then converted into US cents per pound. Delivered North American and cost and freight (CFR) Asia prices are in Dollars per tonne and cents per pound conversions.
Price movements in the report are based on weekly consultations with a cross-section of market participants including producers, distributors and consumers, in particular those in the paints, plastics and paper industries.
The report predominantly covers Rutile grade which forms the basis for price quotations. Anatase grade which is generally cheaper is covered in the text where appropriate.
The commentary covers the developments impacting on supply/demand balances, price movements, production information where applicable, import/export trends and evolution of upstream and downstream markets.
We keep watch on what’s happening in production and track plant outages.
The ICIS report is an excellent resource to provide insight to a very opaque market. Supply issues and new demand trends help buyers and sellers understand price movements and make important decisions.
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Asia’s titanium dioxide (TiO2) prices were higher during the three-month period ended mid-November because of seasonal demand.
The inventory level at both suppliers and buyers were heard to be lower compared to the previous quarter, prompting some restocking activities and price hike by a few major producers since 1 October.
TiO2 prices averaged at $2,850/tonne CFR (cost & freight) Asia in mid-November, up by $75/tonne from the closing prices in the previous quarter.
A few buyers were heard to have concluded fourth-quarter contracts at a rollover, while a few others were agreeable to $30-50/tonne increments.
However, compared with the previous few years, demand remains slower than expected in September to November, because of slower economic growth and fluctuating local currencies against the US dollar.
Downstream demand from end-users in the decorative paints sector continued to outpace those in the non-residential paint sectors, although demand for marine coating was expected to pick up, because of improved shipbuilding business in northeast Asia. The plastic sectors were contributing to the stable demand in the fourth quarter and were expected to improve for the upcoming two quarters.
Updated to mid-November 2013
Titanium dioxide (TiO2) demand was weaker than expected in the three months from mid-May to mid-August because buyers have been unwilling to buy TiO2 in anticipation of falling prices.
It is unlikely demand will pick up in coming months because many consumers are unwilling to commit themselves to large quantities while derivative demand remains poor.
Demand from the decorative paint, automotive, plastics and construction sectors is weak.
Most producers are under pressure to get rid of large inventories in their warehouses. A number of producers have stocks that can last for up to 60 days: an increase from the usual 40. As a result, TiO2 sellers have been offering lower prices in an effort to offload stocks.
Producers have also reduced operating rates to balance supply with demand. TiO2 operating rates are at 70-75% of nameplate capacity on average in Europe.
TiO2 manufacturers are optimistic about the future and hope that demand will pick up from the third quarter. They will then be able to raise prices, because buyers' inventories will have been depleted.
However, this may not happen this year, because Europe is oversupplied and demand is likely to remain weak for the rest of the year.
Updated to mid-August 2013
North American TiO2 prices remained unchanged during the three-month period ending in mid-November, despite limited efforts to raise Q4 prices by 8 cents/lb ($176/tonne), which eventually withered.
Those efforts were stymied largely by seasonally weak demand and ample supply, but also a lack of similar efforts from most producers. One producer has acknowledged that the TiO2 industry has lacked pricing power for most of the year.
Some Q4 price weakness was heard but declines were not confirmed, even as producers aim to hold prices steady. Inventories have been reported normalizing to about 60 days’ supply, perhaps on operating rates also heard in the 80% range.
Those conditions are expected to persist through the first quarter of 2014. Although three of the five major producers are seeking Q1 2014 increases of 5-6 cents/lb, most market sources expect little, if any, price change through the end of Q1, when spring demand is expected to surface.
Updated to mid-November 2013
ICIS provides pricing information, news and analysis for all major petrochemical and chemical markets, including Titanium dioxide.
We offer unbiased and independent price reporting, with our price assessments being widely quoted as benchmarks in contracts.
Our information is collected from market participants by our global network of reporters, delivering unrivalled coverage of established and emerging markets, including China and Asia.
ICIS price assessments are based on information gathered from a wide cross section of the market, comprising consumers, producers, traders and distributors. Confirmed deals, verified by both buyer and seller, provide the foundation of our price assessments, giving you a robust reference for your negotiations.
ICIS collects pricing data on a wide range of chemical, energy and fertilizer products, including Titanium dioxide. Our extensive experience in price reporting means we can offer you access to historical data dating back more than 20 years for certain commodities.
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ICIS price assessments are based on information gathered from a wide cross-section of the market, comprising consumers, producers, traders and distributors from more than 250 reporters world-wide. Confirmed deals, verified by both buyer and seller, provide the foundation of our price assessments.
Our in-depth market knowledge drives our specialist focus, as we recognise the importance of individual market dynamics and not a one-size-fits-all approach.
Over 25 years of reporting on key chemicals markets, including Titanium dioxide, has brought global recognition of our methodology as being unbiased, authoritative and rigorous in preserving our editorial integrity. Our global network of reporters in Houston, London, Singapore, Shanghai, Guangzhou, Mumbai, Perth and Moscow ensures unrivalled coverage of established and emerging markets.