TiO2 China Monthly Report 1204 (12 issues per year)

Date: April 2012
Price: US $3564
Pages: 10
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Welcome to TiO2 China Monthly Report 1201; this is Vol. 5, issue 1 in 2012.

China’s GDP reached USD7.5 trillion in 2011, up 9.2% year on year. It suggests that China’s economy could avoid a hard landing despite falling demand from key export markets in the US and Europe. Meanwhile, the average CPI was 5.4% in 2011, surpassing the target of 4% set at the beginning of 2011.

China’s manufacturing PMI was 50.3% in Dec. 2011, with a decreasing product inventory index, which reflects the production suspension across the country during the Spring Festival break.

The construction of China’s affordable housing will face growing pressure in land and funds, though the target has been lowered in 2012. What’s more, the housing price decline shall continue this year, putting more pressure on Chinese real estate industry.

Experts think that the demand for TiO2 in China will become stable in 2012, with prices in an uptrend—without any sharp ups and downs that showed in last year.

In 2011, the mining company of Pangang Group produced 497.6 thousand tonnes of titanium concentrate ore, surpassing its annual production target (480kt). Nevertheless, domestic supply of titanium feedstock still lagged far behind customers’ demand in 2011. The tight supply is estimated to be more serious in 2012.

Chinese currency RMB appreciated by 5.1% against US dollar in 2011. The appreciation pace is estimated to slow down this year.

Exchange rates in Jan. 2012: USD1=RMB6.31=EUR0.78

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Headline

China’s sluggish international trade of TiO2 continues in Nov. 2011, mainly owing to the weak demand.

Pangang plans to recapitalize Dongfang Titanium, in order to strengthen TiO2 business.

East European largest TiO2 producer Crimea Titan set a new production record in 2011, backed by the strong demand.

Vietnam’s titanium ore export ban might be hindered by its slow progress in titanium ore deep processing development.

Australian resource company Globe Metals and Mining will expand ilmenite production in Mozambique.

Maydos starts coating e-commerce in Dec. 2011, aiming to provide its distributors and customers with more value.

Carpoly recognized as National Enterprise Technology Center, which in turn will helps its development.

Valspar opens a R&D center in China, in order to seize opportunities in the growing Asia-Pacific market.

China’s TiO2 prices continue to increase in Jan. 2012, mainly due to the ore cost increase.

SUPPLY & DEMAND

China’s TiO2 export and import situation in Feb. 2012

COMPANY DYNAMIC

Leading TiO2 producers in China enjoy improved profitability
Pangang Group has strong titanium production in Q1 2012
Shandong Dongjia eagerly develops TiO2 production technology
Nanjing Titanium to be injected into Lianhua Fibre

UPSTREAM

Titanium feedstock import still strong in China in Feb. 2012
Kenmare turns losses into gains last year
SRL sees strong production of rutile and ilmenite in Q1 2012
Iluka sees output decline of all mineral sands except ilmenite in Q1 2012
Rio Tinto’s titanium feedstock output grows in Q1 2012

DOWNSTREAM

PPG enters into technical collaboration with Argex
High cost pressurizes TiO2 downstream companies to raise product prices
Shandong Qifeng more than doubles net profit in Q1 2012

PRICE UPDATE

TiO2 prices continue to decrease in China in April 2012

COMPANIES MENTIONED

Shandong Dongjia
Anhui Annada
Henan Billions
Pangang Group
Nanjing Titanium
Ningbo Xinfu
Anhui Precheza
Jinan Yuxing
Jiangxi Tianguang
Quanzhou Sanwei
Sichuan Lomon
Shandong Dawn
Wuxi Haopu
Dongfang Titanium

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