thChinese producers of titanium dioxide (TiO2) lowered prices last week amid increasing inventories in conditions of weak domestic purchases, ICIS reports citing market participants.

Large Chinese manufacturers tried to keep their prices at the level of USD2,800 per tonne, FOB China.

At the same time, buyers say that the current market conditions differ from the conditions in the first quarter, when manufacturers did not want to give in because of the limited availability of the material.

In June, most Chinese manufacturers took a more flexible position. Even large manufacturers were more open to discuss spot cargo, which prompted some market players to believe that sentiment is not as confident as before.

Meanwhile, offers from smaller TiO2 producers in China for buyers of southeast Asia were USD2 650 per ton, FOB China. Against the background of the growth of warehouse stocks, these manufacturers were ready to offer lower prices.

According to the Price Review of ICIS-MRC, the import of titanium dioxide to Russia from China in May rose again and reached the level of 1,030 tons against 735 tons in April. At the end of five months, Chinese imports decreased by 8% and amounted to 2,980 tons against 3,240 tons in the same period last year.