As we enter late November, the titanium dioxide market continues to maintain a phase of stability. With not much time left in 2024, the current trading situation indicates that the titanium dioxide market is likely to remain sluggish. From the supply side: the general trend is downwards, there is some competition among peers, but the overall market situation is relatively stable, with no significant adjustments expected in the short term; from the demand side: the sentiment for purchasing and stockpiling is low, mainly focusing on meeting essential needs while also having a strong tendency to press for lower prices. The supply side is quite active, but the demand side is relatively tepid, which is typical in a weak market, and there's nothing surprising about it—people are more inclined to buy when prices are rising rather than falling.

Given the current price levels of titanium dioxide, producers are generally operating with thin margins or hovering near the cost line, with some already operating at a loss. Due to environmental pressures and low prices, some producers may passively reduce their operation rates or actively adjust to lower them, aiming to match the relatively weak demand market. In fact, the prices of key raw materials like sulfur and sulfuric acid have risen recently, but the price of titanium concentrate remains relatively weak, which still provides some support for the price of titanium dioxide. Therefore, the scope for continued weakness in the future market is very limited.

With Christmas approaching overseas and the Spring Festival of 2025 coming relatively early, both foreign trade and domestic sales may experience a round of stockpiling peaks alternately. This period spans from November 2024 to January 2025, with December being a crucial period for this wave of positive expectations. It coincides with the "handover" of favorable expectations between foreign trade and domestic sales, and the market situation is expected to improve compared to November. At that time, the latest pricing policies of major manufacturers will be even more critical, as they play a transitional role.

This week, the domestic titanium dioxide market has been operating weakly. Yan Tai Titanium analyst Yang Xun believes: The titanium dioxide price is in a phase of stability, but there are still some rumors of low prices. In fact, such news is not entirely true and does not represent the overall situation. As long as the prices comply with market laws, they are acceptable. Lower prices often require keen discernment. The end of November to the beginning of December is also a critical period for the price market, coinciding with the key preparation period before the international coatings exhibition. Based on past experience, there will be no significant price adjustments before major exhibitions; instead, decisions are usually made based on the effects of the exhibition and comprehensive feedback received. In the short term, the titanium dioxide market will continue to operate weakly at low levels. Going forward, the focus will be on the situation after the coatings exhibition and the latest pricing policies of major producers. The current price market is expected to remain weak, with specific transaction prices being negotiated on a case-by-case basis depending on the order, volume, and payment terms.