1、 Price trend

According to the monitoring of bulk commodity data, the price of titanium concentrate will fall in 2022. The average price of domestic titanium concentrate at the beginning of the year was 2220 RMB/ton, and the average price at the end of the year was 2115 RMB/ton. The price fell by 4.73% during the year.

2、 Market analysis

Product quotation

From the perspective of market development in 2022, the overall increase of titanium concentrate from January to March is mainly. Prices fell rapidly from April to September, and rebounded from October to December.

In the first quarter, the supply was tight, and the overall increase of titanium concentrate was mainly. The cumulative increase from January to March was 7.66%. The market started at a low level, the supply of titanium ore market was tight, and the inventory of small and medium-sized manufacturers was low. The reluctance to sell was obvious, and the price rose. The quotation excluding tax of 38 grade titanium ore is about 1550-1600 RMB/ton, the quotation excluding tax of 46 grade 10 grade titanium ore is about 2380-2400 RMB/ton, and the quotation of 47 grade 20 grade titanium ore is about 2500-2550 RMB/ton.

In the second quarter, the downstream demand was general, and the overall decline of titanium concentrate was mainly. The cumulative decline from April to June was 5.86%. The titanium ore market is light, the downstream market demand is not good, new orders are limited, and the prices of small and medium-sized miners have been lowered more. The price excluding tax of 38-42 grade titanium ore is about 1530-1580 RMB/ton, the price excluding tax of 46 grade 10 grade titanium ore is about 2220-2280 RMB/ton, and the price of 47 grade 20 grade titanium ore is about 2400-2450 RMB/ton.

In the third quarter, the demand did not improve, and the market price of titanium concentrate continued to fall. The cumulative decline from July to September was 8%. Titanium concentrate enterprises reduce production and stop production to relieve the pressure on inventory. The overall turnover of titanium concentrate market is light, while that of the downstream titanium dioxide market is poor, so the pressure is great. The purchasers are more cautious in purchasing at a lower price. The price excluding tax of 38-42 grade titanium ore is about 1420-1450 RMB/ton, the price excluding tax of 46 grade 10 grade titanium ore is about 2040-2100 RMB/ton, and the price of 47 grade 20 grade titanium ore is about 2300-2400 RMB/ton.

In the fourth quarter, Panzhihua Iron and Steel Group's raw ore export decreased, and the market price of titanium concentrate stopped falling and rebounded. The cumulative increase from October to December was 2.17%. Panzhihua Iron and Steel Group's raw ore exports decreased, and the overall turnover of titanium concentrate market improved. In the downstream titanium dioxide market, Longqi sent a letter in November to promote growth and stability. It is good for the titanium ore market. The price of titanium concentrate in Panzhihua Xichang region rose steadily. The quotation excluding tax of 38-42 grade titanium middling ore is about 1420-1450 RMB/ton, the quotation excluding tax of 46 grade 10 titanium concentrate is about 2080-2150 RMB/ton, and the quotation of 47 grade 20 titanium concentrate is about 2300-2400 RMB/ton.

Import data

According to customs data, China imported 3.1832 million tons of titanium ore from January to November 2022, a decrease of 373900 tons or 10.51% over the same period last year. It is estimated that the annual import volume will be about 3.4 million tons. The lowest import volume in the year was in March, with 135300 tons, and the highest import volume was in April, with 467500 tons. From January to November, the top three countries for titanium ore import were Mozambique, Kenya and Vietnam, accounting for 48%, 8% and 8% respectively.

From January to November, the imported titanium concentrate totaled 1.4256 million tons, a decrease of about 36% compared with the same period last year. The imported gross ore totaled 1.7576 million tons, an increase of 31% compared with the same period last year. The supply of imported titanium concentrate remained tight. The titanium raw material resources continue to be strained, and the mainstream titanium ore importing countries have decreased by varying degrees compared with last year, with the highest reduction of Sri Lanka's titanium ore being 87.83%, followed by Ukraine's titanium ore being 83.84%.

3、 Future market forecast

According to the titanium concentrate analyst of the Chemical Branch of the SunSirs, the supply of titanium concentrate in Panzhihua Xichang region is tight, the titanium ore market is fair, and the downstream titanium dioxide enterprises are getting better. It is expected that the titanium ore market will have a good confidence in the short term, and the overall market will continue to be strong.

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