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TiO2 China Monthly Report 1306

TiO2 China Monthly Report 1306 - new market research report published


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2014-02-13 00:18:05 - TiO2 China Monthly Report 1306 - a new market research report on companiesandmarkets.com

This is an annual subscription product, with regular updates throughout the year.China´s economy is now encountering a headwind. The M2 exceeded USD16.18 trillion (RMB100 trillion) in China at the end of March 2013, generating ample liquidity and increasing the risk of over dependence on monetary policies to stimulate economic growth. The new premier Li Keqiang refused to continue the old route, namely using monetary policies to stimulate economy growth. Instead, he determined to soak up liquidity. As a result, interbank lending rates soared in June 2013. The tightened monetary policies will certainly impact the entity economy and slow down short-term economic growth, which is considered to be good for China´s economy in the long term, but bitterness in the short

 

 

term might be unavoidable.

The domestic TiO2 price continued in a downtrend: in mid-June 2013, the average rutile TiO2 price declined by 4.01% and average anatase TiO2 price declined by 3.79% as compared with that in mid-May 2013. The future TiO2 market condition is largely determined by the export situation under the current weak domestic consumption. In detail, Shandong Dongjia is striving for IPO application. If it succeeds, its financing ability will be enhanced. Meanwhile, after several price increase movements by other international TiO2 giants, Tronox, DuPont and ISK also announced increases in product prices. But this hasn´t stimulated the domestic price as a result of weak domestic consumption and fatigued exports. In the upstream, Hong Kong Guangxin failed to provide Zero-seven with enough ilmenite in 2012 and is charged with defaulting. In the downstream, housing prices rose in May although state control remained stringent and domestic automobile output witnessed YoY growth of 13.49% in the first five months of 2013. Particularly, in order to more logically estimate the downstream demand for TiO2, CCM decided to include real estate industrial data analysis as a regular topic from this issue.

Key Headlines

The import volume of TiO2 was 17,677 tonnes in April, 2013, up by 15.70% compared with that in March; the export volume was 34,578 tonnes, down by 13.00%.

The total titanium feedstock supply volume was 409,562 tonnes in April 2013 in China, edging down 0.49% compared with that in March 2013.

The domestic TiO2 price was still in a downtrend despite international TiO2 giants successively announcing price increases in 2013, mainly due to the sluggish downstream demand and shrinking exports.

Shandong Dongjia is undergoing the ""reply to feedback"" process and will enter the ""disclose in advance"" process if it successfully passes the ""reply to feedback"" process.

Led by optimistic anticipation of future TiO2 demand, DuPont and Tronox announced a price increase on May 30, 2013.

TiO2 producers in Panzhihua Vanadium & Titanium Industrial Base can benefit from increased profit if local electricity prices are lowered.

Hong Kong Guangxin defaulted on the ilmenite contract signed with Zero-seven, so the cooperation will probably break up, necessitating Hong Kong Guangxin to pay a breakup fee.

Acquisition expands Valspar´s present USD6 billion European industrial market and provides operating synergies with Valspar´s existing business.

The YoY growth rate in sales revenue of domestic real estate dramatically exceeded that of sales areas, indicating that the housing prices rose in May although the state control of the real estate industry remained stringent.

Domestic automobile production achieved a YoY growth of 13.49% in the first five months of 2013 and the whole year´s growth rate was expected to reach 8.4%.

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