Entering the final December of 2024, the mainstream titanium dioxide market remains in a weak and stable state. This week also marks the "Golden Week" for the paint industry, where a grand gathering centered around the paint industry brings together the upstream and downstream supply chain. The market strategies adopted by various manufacturers vary. Some adjust their pricing strategies in advance, hoping to seize some orders at the exhibition by getting a head start; others focus on understanding the situation and observing, making pricing decisions after the exhibition based on the actual circumstances, and this approach is taken by the majority of manufacturers; still others adjust prices on-site during the exhibition to intercept orders and intentionally spread news to influence other customers to place orders with them. The conditions and price adjustments of each manufacturer differ.

The price of the main raw material, titanium concentrate, remains weak and stable, while sulfuric acid prices are firm (especially in the Southwest region, where sulfuric acid prices have reached 600-700 yuan/ton). Given the current market prices of titanium dioxide, the situations of the manufacturers vary: some manage to operate with slight profits even after price adjustments; some are operating near the breakeven point; others are already in a loss-making state due to negative margins. The commonality is that all face significant pressure. The operation rates of manufacturers have remained relatively stable recently, with no immediate plans for major adjustments or production halts, as they await the latest pricing policies from the leading manufacturers after the paint exhibition.

Through communications with various upstream and downstream users on-site, it was understood that some holders hope that the post-exhibition period will bring some positive influence to the market, promoting a rebound from the bottom. However, reality is more grounded and not subject to our will, lacking sufficient and strong positive drivers, thus maintaining a weak operation is still highly probable.