As July comes to the end, the titanium dioxide market has witnessed a new round of firming prices.
As predicted earlier, the price market in July has been rather intricate. At the beginning of the month, manufacturers successively reduced prices by RMB100-600 per ton. However, by mid-July, shortage of stocks led to an increasing number of voices advocating price firmness and even upward trends. Consequently, most end-users started planning their procurement, prompting major producers to adjust prices upwards based on their own situations. This "phenomenon" of both decline and rise within the same month is an unprecedented occurrence in nearly a decade. Manufacturers are likely to resort to adjusting prices according to their production and market conditions in the future.
Prior to the issuance of the price increase notice, the trend of price rises had already come into being. The issuance of the price increase notice confirms the supply-side's assessment of the market. Given the current situation, actual price hikes are highly probable, and other manufacturers are also expected to follow suit with their own notices, indicating the imminent arrival of a price increase trend in Q3. This can also be considered as a prelude to the peak season in the months of September and October.
The issuance of the price notice, coupled with the emotional trend of buying up and not buying down, has accelerated the delivery speed of suppliers. The final order price has also risen. During this period, some customers made orders quickly, while other customers reacted relatively slow, so it would be difficult to order with low price. Currently when the supply of titanium dioxide is tight, the price support won't be very strong, and we will strive to ensure the stocks for more customers with our deployment.
In conclusion, the titanium dioxide market experienced complex price fluctuations in July. Manufacturers will adjust prices according to market conditions in the future. The issuance of the price hike notice confirms the price increase trend, indicating the approaching price surge in Q3. Both the supply side and end-users need to adapt to cope with market changes effectively.
Post time: Aug-16-2023
