First Quarter of 2023 in Europe Titanium Tetrachloride Prices
North America
Throughout the first quarter of
2023, the Titanium
Tetrachloride Prices have demonstrated mixed market sentiments. The
average procurement from the downstream construction industries has reduced the
market value of Titanium Tetrachloride, and as a result, the prices have
remained on the lower end. Rising interest rates, tight monetary conditions,
and volatility in input energy material prices have pressured the trade
activities of various specialty chemicals, including Titanium Tetrachloride. As
per the market participants, the downstream paints and coatings sector
inquiries were based on a need-on-demand basis, increasing the supply-side
pressure on the existing high inventories. Furthermore, the financial sector
worries brought on by the failure of two banks based in the USA have further
fumed the market downturn across the domestic region. Thus, the Titanium
Tetrachloride market has operated at low levels at Q1-end.
APAC
The prices of Titanium
Tetrachloride have demonstrated a downward trajectory throughout the first
quarter of 2023. The exemption of COVID-19 restriction has fuelled
manufacturing activities in the domestic region. The stockpiling of the product
amid subdued demand from the downstream paints and coatings sector has weakened
the market sentiments, and as a result, the market has operated at low levels.
Furthermore, the Spring Festival Holidays in the first half have tightened the
labor conditions and transportation and logistics across the nation. However,
in February, the production activities speeded up, and the manufacturing
purchasing manager index settled in the expansion zone. The demand from the
downstream construction sector did not reciprocate, and the manufacturers have
had to reduce their quotations in order to stimulate new shipments. In
addition, the freight charges were also at the lower end amid decreased demand
from the overseas market. Consequently, Titanium Tetrachloride Ex-Tianjin
prices were settled at USD 1124 per ton at the end of the first quarter.
Europe
In the domestic region of France,
the prices of Titanium Tetrachloride have witnessed a volatile trend. The
prices have remained at the higher end in the European market amidst continued
inflationary pressures and still-high manufacturing costs. The build-up of
high-cost inventories has impeded the manufacturers from any price cuts despite
the weak demand fundamentals. In addition, the labor strikes for wage issues
has been continued throughout the first half and impacted electricity
production across the nation. Furthermore, with the tight monetary conditions
and high-interest rates, the inflationary pressures have started to ease,
alleviating the market pressure. On the demand side, the inquiries from the
downstream construction sector have also moved, albeit at a slower pace. In
late Q1, declining freight charges and the ease in production costs brought on
by lower energy prices led to a decrement in the market value of Titanium
Tetrachloride. Thus, Titanium Tetrachloride FOB Le Havre prices were assessed
at USD 2281 per ton in March.
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