On June 1st, Ningbo Xinfu, Shandong Daun and Guangdong Huiyun announced price increases. With immediate effect, prices of all products in the domestic market will increase by RMB 500-800/ton, and exports will increase by RMB 50-100/ton. The price increase is the seventh round of price increase for the domestic titanium dioxide industry this year. Titanium dioxide analyst Yang Xun believes that companies with lower inventory dominate the price increase. Under the more optimistic situation of export, major companies such as Sichuan Longxuan are likely to follow up.
Yang Xun believes that the strong spot of export is the main reason for this price increase. Annada (002136) recently disclosed records of investor relations activities showing that in recent years, the quality of domestic titanium dioxide has been continuously improved, coupled with price advantages, the competitiveness of Chinese titanium dioxide in the international market has been further enhanced, and the volume of exports has increased. Titanium dioxide exports have increased year by year. Titanium dioxide inventory had a significant decline from the end of last year and inventory was low.
According to the statistics provided by the General Administration of Customs, the total export volume for January-April 2016 was 213392.179 tons, and the average export price was less than 1,500 USD/ton.
Yang Xun pointed out that after the price increase, the price of domestic rutile titanium dioxide was around RMB 10,800-12,500/ton. It is expected that the leading export companies such as Sichuan Longxi will be more likely to join the ranks of rising prices. However, at present, most of the downstream industries are already stockpiled to the off-season from July to August. If there is no export support, the follow-up prices may be lowered.
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