China Titanium Ore and Titanium Dioxide Market Report for the Third Quarter of 2025

In the third quarter of 2025, the titanium market showed mixed trends. Prices of some products like titanium slag and sponge titanium continued to decline, while prices of titanium ore and titanium dioxide rebounded. The global economic environment remains challenging, and the strong season effect in September had a limited overall impact. With the continuous release of production capacity in recent years, the titanium industry is facing an increasingly severe oversupply situation, where costs and demand are in a constant tug-of-war, leading to a weakening trend in titanium market prices.

In the third quarter of 2025, the market prices of titanium dioxide in China experienced a "rise and fall" trend. By the end of the quarter, the ex-factory price of rutile titanium dioxide, including tax, was between 12,700 and 13,200 yuan per ton, while the ex-factory price of anatase titanium dioxide, including tax, was between 11,600 and 11,800 yuan per ton. Compared to the beginning of the quarter, the price of rutile titanium dioxide decreased by around 350 yuan per ton, a decline of 2.63%. The price of anatase titanium dioxide decreased by around 100 yuan per ton, a decline of 0.85%, compared to the initial price range of 11,600 to 12,200 yuan per ton.

In July, the price of titanium dioxide was reduced by about 600 yuan/ton. Due to the continuous rise in raw material costs, the situation of factory losses worsened. At the beginning of July, Longbai Group's distributor prices were reduced by 200-500 yuan/ton, and some companies in the market adjusted their prices accordingly. There was a slight improvement in short-term sales; however, the foreign trade market remained severe. Exports to Southeast Asia and re-exports began to implement tariffs, and the number of companies reducing production increased. Meanwhile, market inventory had not yet decreased. At the end of July, a rebate policy based on task completion was implemented, narrowing the price difference of titanium dioxide. In early August, Longbai Group's prices were reduced again, reaching basically the lowest point of the year. Coupled with a decline in production, a price increase trend began in the titanium dioxide market in mid to late August. With the impact of the peak season in September, the market anticipated stockpiling, and factory inventories gradually decreased. In September, market prices increased by 300 yuan/ton, but sales were not as expected. Due to some existing orders, there was no significant pressure on inventory. By the end of the month, major paint manufacturers' October bidding prices mostly remained unchanged, with a few high prices reduced by 100 yuan/ton, keeping titanium dioxide prices firm.

Demand in the peak season has been advanced, and the demand side continues to show a weak trend. It is reported that the tariffs on foreign trade exports to India will be canceled by the end of September. In addition, the suspension of capacity expansion by international titanium dioxide companies will be beneficial for the titanium dioxide market in the fourth quarter. Moreover, with the decline in sulfuric acid prices, factory profitability has improved, and the titanium dioxide market may see a rebound.

Average monthly price of titanium dioxide in the third quarter:

II. Forecast Analysis of Titanium Dioxide Market

This year, the demand for titanium dioxide is unlikely to change from its weak trend, with a tug-of-war between cost and demand suppressing the reduction of titanium dioxide production. The timeline for the resumption of operations at major companies' factories in Hubei remains uncertain, but new production capacities are expected to gradually be released in the fourth quarter, leading to a slight increase in titanium dioxide output. Exports of titanium dioxide are showing a downward trend due to disturbances from overseas anti-dumping measures, although there may be some increase in exports to India in the fourth quarter. The recovery in downstream demand from industries such as coatings and plastics remains sluggish, constraining the titanium dioxide market. Market opinions on the future are mixed, with both positive and negative factors intertwined in the fourth quarter, and the titanium dioxide market is still facing significant pressure going forward.