February 2026 Titanium Dioxide Market Overview

The titanium dioxide (TiO?) market in February 2026 showed the following characteristics:

1. Price Trend

· Domestic sulfate-route rutile TiO? mainstream quotations ranged between CNY 13,800–14,800/ton, representing a cumulative increase of approximately CNY 300–500/ton (about 2%–4%) compared with the December 2025 low.

· Anatase TiO? was quoted at CNY 12,000–12,500/ton.

2. Cost Drivers

· Upstream titanium concentrate supply remained tight, and sulfuric acid prices stayed high (up over 100% compared to the beginning of the year), putting significant pressure on production costs and driving price adjustments.

3. Demand-Side Performance

· Downstream industries such as coatings, plastics, and paper entered production halt and reduction periods, resulting in weak market transactions. Pre-holiday implicit price adjustments were difficult to fully implement.

· Some downstream enterprises stopped production in advance, with expected resumption in late February. Post-resumption operating rates may initially be low and then increase, which could delay the release of purchasing demand.

4. Inventory Situation

· Industry inventory levels were neutral to slightly high, with days of inventory expected to rise to 20–25 days by the end of February, putting pressure on some enterprises with high stock levels.

Summary

Overall, in February, the TiO? market was in a tug-of-war between cost-driven price increases and weak demand. Although prices showed an upward trend, actual transactions were limited due to downstream production halts. The recovery of demand after the holiday will be the key factor in determining whether prices can continue to rise.