2014-01-31 23:43:01 - TiO2 China Monthly Report 1307 - a new market research report on companiesandmarkets.com
China´s GDP achieved a growth rate of 7.6% in H1 2013, as announced by the National Bureau of Statistics of China (NBSC) on 16 July. In detail, the GDP growth rate in Q1 and Q2 were 7.7% and 7.5% respectively. It´s reported that a 7.5% annual economic growth rate is the target of the Chinese government, but the new president and premier may tolerant a lower GDP growth rate in order to adjust the industrial structure and deepen reforms for the long term.
On July 19, the central bank announced the freeing up of the lending rate, which will help cut companies´ financial costs and stimulate China´s economy according to overseas insiders, while this may not happen in the short term
as the actual fact is that companies seldom obtain loans under the 90% benchmark lending rate; however, they deem it as giving signals of deep reforms, which means that a flexible deposit interest rate might be possible.
In May, domestic TiO2 imports maintained their previously strong momentum with a month-on-month growth of 23.15% in volume while exports increased by only 5.99% in volume. In mid-July, the TiO2 prices in China slowed down their declining pace while producers and distributors held a consensus of optimism that domestic TiO2 prices might rise or at least enter a stabilization period in H2 2013. Also, we conclude that some overseas TiO2 end users would rather choose the cheaper Chinese TiO2 products as driven by the previous price increase movements of international giants.
Some domestic TiO2 leaders, such as Pangang Group and Sichuan Lomon are now able to smelt titanium slag by using 100% local titanium feedstock in their TiO2 production, which will greatly reduce China´s dependence on imported titanium feedstock and largely improve these companies´ competitiveness in the domestic TiO2 industry.
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