For the Quarter Ending June 2023

North America

The US Titanium Tetrachloride market has experienced considerable volatility in prices, primarily influenced by the challenging conditions in the construction sector. Key inputs, including Titanium Tetrachloride, have faced market constraints, and finished stock availability has outpaced demand from downstream construction and automotive industries. In mid-June, Natural Gas prices surged due to lower-than-expected inventories, yet overall prices remained subdued due to ample inventory levels and a weak demand outlook in major exporting country, China. Towards late Q2, downstream production facilities operated at reduced rates due to sufficient finished goods, with manufacturers exercising caution amidst high inventory levels and persistently tepid economic conditions across Western markets. A contraction in the Purchasing Manager Index, dropping from 46.9 in May to 46.0 in June, reflects the impact of weak manufacturing conditions nationwide. Despite these challenges, container availability at US Ports has been satisfactory, ensuring the unimpeded movement of finished goods.

APAC

China's Titanium Tetrachloride prices have sustained a downward trend in Q2, attributed to reduced procurement from downstream construction and automotive industries. Western market inquiries have remained subdued due to high inflationary pressure and volatile energy costs. Despite increased production post-COVID restrictions, demand from the downstream construction industry has not rebounded broadly, prompting manufacturers to revise quotations to manage elevated stocks. Weak demand from the United States and Europe, driven by rising interest rates and inflation, has led to a 7.5% decline in exports from China in May YoY. The manufacturing Purchasing Manager Index, consistently below 50 points throughout Q2, reflects the contraction in production levels. Consequently, Titanium Tetrachloride Ex-Tianjin prices were assessed at USD 995 per ton in June.

Get Real Time Prices of Titanium Tetrachloride: https://www.chemanalyst.com/Pricing-data/titanium-tetrachloride-1478

Europe

The French Titanium Tetrachloride market has experienced mixed sentiments, initially responding to an energy price spike in early Q1 with reduced production, limiting Titanium Tetrachloride stocks. In early Q2, manufacturing firms ramped up production to meet rising demand, maintaining stability in the supply chain with low freight charges. However, inquiries from downstream construction and automotive industries did not witness significant improvement in the latter part of Q2, prompting manufacturers to reduce prices. Despite a record-low of Euro 31.23/Mw-hr in TTF natural gas prices contributing to reduced manufacturing costs, inflationary pressures increased, posing risks to Titanium Tetrachloride price realizations. Despite lower energy prices, inflation rose to 6.1 percent in May, up from 5.2 percent in April. Throughout Q2, the construction sector remained lackluster, contributing to the observed contraction in Titanium Tetrachloride demand dynamics.




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