TiO2 China Monthly Report 1304 (12 issues per year)

Published: April, 2013
Price: US $3,564
Pages: 16
Editor Notes

2013 is a vital year for China as it is not only the middle year of the 12th Five-Year Plan, but also the first year of the new government. China might face lots of problems, such as exaggerated polarization between the rich and the poor, the economy seriously depending on fixed asset investment, and further reform of the monopolized fields, all leading to broad concerns over China’s development. The approaching of the National People’s Congress & the Chinese People’s Political Consultative Conference (NPC & CPPCC) at the beginning of Mar., 2013 will shed light on resolving the current problems in China. The further reform of monopolized fields needs to weaken the rights of interest groups, making the reform difficult. However, only if the rights of interest groups are broken can China’s economy maintain sustainable development.

2012 was a disappointing year for the TiO2 industry as many companies experienced dramatic profit declines in TiO2 business. For instance, DuPont’s Performance Chemicals Segment declined by 17.52% in pre-tax operating income. In 2012, China imported a total of 0.17 million tonnes of TiO2, a YoY fall of 27.26%, 2.9 million tonnes of titanium feedstock, a YoY increase of 28.07%; and exported 0.43 million tonnes of TiO2, a YoY fall of 4.23%. Indeed, China produced a total of 1.89 million tonnes of TiO2 in 2012, a YoY growth of 7.7% on the adjusted basis of output data in 2011.

Regarding upstream news in this issue, Yueda Mining, a Chinese listed company on the Hong Kong stock exchange, invested in a titanium slag project in Vietnam, which certainly is a piece of exciting news for China’s TiO2 producers under the current situation of the Vietnamese government preventing the exportation of primarily titanium feedstock.

Exchange rate in Feb. 2013, USD1=RMB6.28; EUR1=RMB8.38
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Import volume declined by 38.81% and export volume increased by 3.55% in Dec. 2012.

The full-year 2012 titanium feedstock supply volume was 6.1 million tonnes.

Prices of TiO2 and titanium feedstock remained stable in mid-Feb., the same as in the preceding month.

China witnessed an output of 1.89 million tonnes of TiO2 in 2012 and the output in 2013 is expected to increase by 10%–15%.

Henan Billions puts forward its stock option incentive plan to enhance productivity.

DuPont witnessed a YoY growth of 3.36% in net sales and YoY fall of 19.86% in net income in 2012.

Yueda Mining intends to invest in a Vietnamese titanium slag project with a final capacity of 120,000t/a.

Dow realized net sales of USD56.79 billion and net income of USD1.10 billion in 2012.

Carlyle Group feels confident about the acquisition of DuPont Performance Coatings business.

Editor’s notes
Headlines of this issue
Industrial Information
Import volume of TiO2 down 24.66% while export volume down 5.93% in Feb. 2013
Import & domestic production analysis of titanium feedstock in Feb. 2013
Price update in April 2013
Company dynamics
Henan Billions faced tough times in 2012
It takes time for domestic TiO2 producers to master chloride process technology
Blue Star NM is not urgent to strip its TiO2 assets
Fuming Hutong was ordered to suspend production
Sichuan Lomon cooperates with WTR to seek ilmenite resources overseas
Decor paper industry consumed 9.92% of domestic TiO2 apparent consumption in 2012
China automobile output increased by 12.7% in Q1 2013

Companies Mentioned

Henan Billions, Jinzhou Titanium, Blue Star NM, Fuming Hutong, Sichuan Lomon, WTR, Iluka, Rio Tinto, Shandong Qifeng, DuPont, ISK, Cristal

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