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Titanium Dioxide China Monthly Report 1703

Titanium Dioxide China Monthly Report 1703

  • March 2017
  • 28 pages
  • ID: 4823006
  • Format: PDF
  • By CCM Information Science & Technology Co., Ltd

Summary

Table of Contents

Welcome to the March Issue of Titanium Dioxide China Monthly Report.

China Titanium Dioxide Monthly Report will help you stay ahead of the game in this fast-changing market with real-time reporting on the entire TiO2 industry chain, from the upstream ilmenite and titanium slag markets to the downstream pigments, coatings and plastics markets.

Here is the Editor's Note for you to know about the March issue specifically:

In March 2017, the TiO2 demand from downstream gradually recovered. After Lomon Billions Co., Ltd. increased its price at the beginning of this month, dozens of domestic producers quoted higher prices, up by USD72.68/t–145.35/t (RMB500/t–1,000/t). In this context, the prices of high titanium slag, acid dissolved titanium slag and ilmenite maintained an upward trend. The rising price of rutile TiO2, almost hitting USD2,907/t (RMB20,000/t), raised market concerns about exports decline triggered by weakened price superiority over overseas producers and downstream demand decrease, a result of soaring production costs.

Market dynamics of titanium products in March 2017

Ilmenite

Both the overall operating rate and the price increased due to climbing demand.

Titanium slag

The overall price of high titanium slag this month grew significantly because of low operating rates in Hebei and Liaoning provinces and Panzhihua City, where environmental inspections were conducted, as well as climbing production costs pushed by rising ilmenite prices.

Import and export of TiO2

In Jan. 2017, China's import volume of TiO2 declined MoM, while export volume slightly increased MoM. The soaring exports can be mainly attributed to the situation that some international TiO2 giants, including Cristal, ISK and Tronox raised their prices from 1 Jan., 2017, as well as the continuous devaluation of RMB.

Important market dynamics

On 16 March, 2017, Yibin Tianyuan announced a plan to invest USD14.54 million (RMB100 million) to build a subsidiary, a move expanding into the Li-ion battery industry.

On 15 March, 2017, CNNC TD published its financial report, revealing YoY growth of 202.56% in its operating profit in 2016. CNNC TD turned deficits into profits due to significant increases in both its output and the price of TiO2.

In March 2017, Lomon Billions announced the acquisition of a 100% stake in Panzhihua Ruierxin with USD27.62 million in cash, a move it has taken to ease the tight supply of ilmenite for the company at present.

Titanium Dioxide China Monthly Report is a monthly published newsletter, which can be downloaded in PDF format. The subscription mode for this newsletter is yearly and the subscriber will receive 12 issues per year.

In Jan. 2017, China imported 254,014 tonnes of ilmenite, up by 6.51% MoM (vs. 238,489 tonnes in Dec. 2016). The average price of imported ilmenite jumped by 30.36% MoM to USD151.84/t from USD116.48/t in Dec. 2016.
In Jan. 2017, China's TiO2 export volume significantly increased and its import volume declined. The gap between import and export volume broadened to 44,597 tonnes from 29,704 tonnes in Dec. 2016, while the difference of import price and export price shrank from to USD563/t from USD669/t in Dec. 2016.
In March 2017, major manufacturers increased quoted prices of their products and heightened their operating rates during the traditional peak season of TiO2 market. In this context, the prices of high titanium slag, acid dissolved titanium slag and ilmenite maintained an upward trend.

On 16 March, 2017, Yibin Tianyuan announced plans to invest USD14.54 million (RMB100 million) in the establishment of a new subsidiary which will produce chemicals for the Li-ion battery industry. CCM believes Yibin Tianyuan is strategically branching out in several directions by expanding into the TiO2 and Li-ion battery industries.
On 15 March, 2017, CNNC TD published its financial report, revealing YoY growth of 202.56% in its operating profit in 2016. CCM believes CNNC TD turned deficits into profits due to significant increases in both its output and the price of TiO2.
In March 2017, Lomon Billions announced the acquisition of a 100% stake in Panzhihua Ruierxin with USD27.62 million in cash, a move it has taken to ease the tight supply of ilmenite for the company at present.

In March 2017, Zhuhai Yinlong stated that demand for TiO2 from the lithium titanate battery industry is gradually increasing, with the industry expected to become a new growth point for the TiO2 market in the future.
In Feb. 2017, Annada published its 2016 full-year financial report, revealing that its sales and net profit had increased substantially YoY. The key reasons for Ananda’s all-round improvement lie in its accurate grasp of the market and expansion of its iron phosphate business, according to CCM.
In March, several proposals and hot topics highlighting domestic industrial development, from which the TiO2 industry is expected to benefit, were put forward during the 2017 Two Sessions.

In March 2017, several major brands in the coating industry, including Carpoly Chemical, Guangdong Badeshi and SKSHU Paint, announced price rises for some of their coatings. In this context, China's coating industry, having been heavily pressured since 2016, is expected to embrace a trend of large-scale price increases.


Recommended article for China Titanium Dioxide Monthly Report 1703:

Yibin Tianyuan strategically branching out in several directions

On 16 March, 2017, Yibin Tianyuan Group Co., Ltd. (Yibin Tianyuan) stated that the Proposal on the Establishment of Wholly-owned Subsidiary had been approved by the board of directors. According to the proposal, Yibin Tianyuan will invest USD14.54 million (RMB100 million) to establish a wholly-owned subsidiary, Yibin Tianyuan Lithium-ion Battery Material Technology Co., Ltd., which will mainly be engaged in the R&D, production and sale of chemicals for Li-ion batteries.

Yibin Tianyuan, founded in 1994, is the largest chlor-alkali chemical company in western China, with its dominant businesses being the production and sale of various PVCs and ionic membrane caustic soda. On 10 Dec., 2013, the company announced an investment of USD11.26 million (RMB77.48 million) to construct artificial rutile production lines with a capacity of 10 thousand t/a. On 4 Dec., 2016, it revealed another plan to invest USD145.35 million (RMB1 billion) to build new chloride process TiO2 production lines with a capacity of 50 thousand t/a, which drew the attention of the TiO2 industry.

"After rapid development between 2006 and 2016, the domestic chlor-alkali chemical industry is now entering a period of adjustment," an official from Yibin Tianyuan stated regarding expansion into Li-ion battery industry, "our company has decided to expand into the TiO2 and new energy battery industries in order to achieve further development, which should help us mitigate overcapacity, shortage of resources, and stricter safety and environment policies."

CCM is of the opinion that Yibin Tianyuan, like most other companies in the domestic basic chemical industry, is now faced with the great challenges of outmoded capacity elimination and transformation and improvement in the context of supply-side reform. Its expansion into the TiO2 and Li-ion battery industries offers a potential new direction for other domestic TiO2 companies to follow. Yibin Tianyuan's current business strategy involves the following:

1. Reliance on fine chlor-alkali chemical business

On 27 Feb., 2017, Yibin Tianyuan published its 2016 financial report, revealing that its sales had increased by 16.8% YoY to USD1.82 billion (RMB12.50 billion), net profit had risen by 16.8% YoY to USD8.01 million (RMB55.14 million), and the average growth in net profit from basic chemicals had reached 24.06%. According to the financial report, the company performed well in the chlor-alkali chemical industry in 2016, a fact which can mainly be attributed to its mature products mix. Thus, the company will further optimise its basic chlor-alkali chemical products.

2. Appling chlorine resources to TiO2 production

Yibin Tianyuan is now making great strides in applying its chlorine resources to the production of chlorine process TiO2, and may develop further into the titanium industry in the future. Yibin Tianyuan's artificial rutile production lines project entered production and underwent fine-tuning in March 2017, and its chloride process TiO2 project, planned and built by its newly-founded wholly-own subsidiary Yibin Tianyuan Haifenghetai Co., Ltd., will be finished in 3 years.

3. Expanding into Li-ion battery industry with resource advantages

Yibin Tianyuan, a listed company held by the State-owned Assets Supervision and Administration Commission of Yibin, takes advantage of rich lithium resources in Sichuan Province. Plentiful reserves of lithium ore and abundant investment strongly support the company's expansion in the new energy vehicle industry, a market which in recent years has seen government backing and has been favoured by other companies.

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