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Production costs increase many titanium dioxide companies announced price increases

production costs increase many titanium dioxide companies announced price increases

September 27, 2018

it is understood that the mainstream ex factory price of rutile titanium dioxide remains at 17000 yuan/ton; The mainstream ex factory price of anatase titanium dioxide is maintained at 14000 yuan/ton. Recently, longmang Baili and CITIC titanium announced that the price of related titanium dioxide products will increase by 300 yuan/ton from October 1. A number of companies followed suit, with increases ranging from 300 yuan to 500 yuan/ton. The performance forecast of the third quarter shows that the performance differentiation of listed companies is obvious. During the reporting period, leading companies actively expanded the production capacity of chlorination process. Insiders said that the quotation of titanium dioxide by chlorination method was more than 20000 yuan/ton, and the profit margin was high. The leading companies realized the conversion of old and new kinetic energy through layout in advance, and the industry concentration was further improved

titanium dioxide enterprises have raised prices

recently, many titanium dioxide enterprises announced price increases ranging from 300 yuan to 500 yuan/ton. According to Huicong chemical, on September 20, Guangxi Jinmao titanium industry released the latest price adjustment letter. Due to the rising price of raw and auxiliary materials, the price of titanium dioxide has been raised by 500 yuan/ton since September 25. On the same day, Panzhihua tihai technology released the latest price adjustment letter. Due to the significant increase in production costs, the price of titanium dioxide will be increased from now on, with an increase of 500 yuan/ton for domestic trade and 80 dollars/ton for foreign trade. Hunan big jade rabbit Chemical Co., Ltd. also announced that the company's titanium dioxide sales price will be increased by 300 yuan/ton from September 20

in early September, the leading titanium dioxide company announced a round of price increases. On September 7, longmang Baili announced a price adjustment letter. Affected by the tight supply of natural gas and environmental protection and production restriction, since October 1, the sales prices of various models of titanium dioxide, including titanium dioxide by sulfuric acid method and titanium dioxide by chlorination method, have been increased by 300 yuan/ton for domestic customers and 50 dollars/ton for international customers on the basis of the original price. The announcement shows that the product price adjustment will have a positive impact on the overall performance improvement of the company. At the same time, the impact of this price increase on sales volume is still uncertain, and the duration of the new sales price is uncertain, so there is a risk that the product price will continue to fluctuate

Yan Yu, an analyst of titanium dioxide industry of Baichuan information, told China Securities Journal that the price rise of leading companies is mainly caused by the recent rise in the price of raw materials. At present, the superposition is the traditional price rise cycle of titanium dioxide, and the price rise can rise by 2 The sample is cleaned with alcohol or acetone to boost the market. Other companies follow up. The specific effect depends on the market reaction and sustainability. Titanium dioxide demand is mainly concentrated in real estate, automobile and other fields. As the overall growth rate of these industries slows down, the outlook of titanium dioxide demand is also affected to a certain extent

performance differentiation and industry concentration increase

Yan Yu stressed that due to the high price increase of titanium dioxide in 2017, the overall price fluctuation in 2018 was small, and the high price has been the main way to maintain stability throughout the year. At present, the domestic production capacity of titanium dioxide is about 3.56 million tons, and the operating rate of the industry is about 80%. The rise in the price of raw materials welcomes the supervision of the public, which has seriously compressed the profit margin of small and medium-sized enterprises; Large enterprises have a stable customer base and the whole industry chain, and the impact is relatively small, which further improves the industry concentration

from the situation of listed companies that have issued the third quarter performance forecast, the performance differentiation is relatively obvious. Affected by the rise of raw materials, the rise of energy prices such as natural gas, and the rise of environmental protection operating costs, some companies' performance fell significantly year-on-year. Taking anada as an example, the electric vehicle powered by this battery can travel up to 1000 kilometers. The company expects to achieve a net profit of 60-80 million yuan in June, a year-on-year decrease of 35.85% - 51.88%. The company predicts that the market demand for titanium dioxide is stable, the market demand for iron phosphate is insufficient, the price of some raw and auxiliary materials rises, the cost of environmental protection and governance rises sharply, and the gross profit margin of products decreases

the performance of some companies is relatively stable. Longmang Baili expects to achieve a monthly net profit of 1.729 billion yuan -2.305 billion yuan, with a year-on-year increase of 20%. Mainly because the cost and sales price of titanium dioxide, the leading product, were basically stable, and the production and sales volume increased slightly compared with the same period last year

it is worth noting that longmang Baili has obvious intention to continue to expand production capacity. In the first half of 2018, after the company terminated the non-public offering of shares to acquire Anning iron and titanium, it immediately announced that it planned to issue convertible bonds to raise no more than 1.854 billion yuan for the 200000/ton chlorinated titanium dioxide production line project and to supplement working capital. Zhongyuan Securities Research Report shows that at present, the company's 60000 ton chlorination titanium dioxide production capacity is gradually stable, and the construction of the 200000 ton chlorination phase II project has been started, which is expected to be put into operation in 2019

Yan Yu said that at present, anatase titanium dioxide is about 14000 yuan/ton; The mainstream ex factory price of rutile titanium dioxide is about 17000 yuan/ton; Titanium dioxide produced by chlorination method exceeds 20000 yuan/ton. Compared with other types of titanium dioxide, titanium dioxide by chlorination has higher price and gross profit rate. Through the expansion of titanium dioxide production line by chlorination, leading companies will gradually update and replace their production capacity, and the industry concentration will be further improved

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