New energy vehicles not only urge the lithium, but also detonated cobalt, and now have to spoil the titanium dioxide market. "Our lithium titanate battery on the demand for titanium dioxide doubled year by year, so the future market space is very large." Domestic lithium titanate battery leader Zhuhai Yinlong stakeholders so on the card reporter said.
Cobalt prices for the past six months due to the new energy vehicles ternary materials and sought after speculation by the capital, and with more and more industrial capital overweight lithium titanate batteries, high-end demand for titanium dioxide began to increase rapidly, is expected to reshape the development trend of titanium dioxide industry The
In addition to the new technology development brought about by the new demand, the titanium dioxide industry itself after years of trough consolidation and inventory, the overall situation has been in short supply, the industry boom is not only reflected in the titanium dioxide prices continue to rise, but also gradually reflected to Related A-share company's ultra-expected performance, leading Bai Li Lian released the results of the previous day news show that the company's profit in 1816 484 million, an increase of 334%.
"We are now in short supply, produced soon after the pull away, the whole industry is low inventory." "Really full load production, the basic no inventory." Bai Li Lian, Jin Pu Titanium and other titanium dioxide company recently In an interview with the card reporter was so said.
The latest data show that since the end of 2015 rutile titanium dioxide prices into the bottom of 9500 yuan / ton, so far more than a year after the price quickly rose to 18,000 yuan / ton, or approaching 90%, anatase titanium dioxide is also the case The
Production and sales booming
"Nearly one hundred percent of people are optimistic about the price of titanium dioxide in the first half of this year!" A well-known domestic titanium powder sales manager Yangjing Li told reporters on the card, in fact, from the second quarter of 2016, the domestic and international titanium dioxide market in the two Wang situation, now is in short supply, our company produced the goods soon pulled away, the whole industry is low inventory.
Domestic titanium dioxide industry leader Bai Li Lian and how to see? "Personally think that in the first half of 2017, titanium dioxide will continue to maintain the trend of 2016." This is Bai Li Union Deputy General Manager Shen Qingfei in January this year, when the views of institutional investors interview.
Domestic titanium dioxide listed companies, including Bai Li Union, the nuclear titanium dioxide, gold Pu titanium and Ananda four. Which Bai Li Union acquired dragon python titanium industry, becoming Asia's first, the world's fourth titanium dioxide manufacturers, bargaining power greatly improved.
Talk about the situation of orders, Yang told reporters: "Our customers are very stable, the company is on a single month, according to their own production capacity, how much the number of dry, not urgent single. Now order ahead of schedule, many factories now The list in January is not finished yet!
Yang Jingli where the enterprise has been taking the chlorination process line, only high-end rutile titanium dioxide, used to replace imports. According to him, the current domestic demand for high-end titanium dioxide about 25 million tons, "which imports 200,000 tons, we supply 50,000 tons in the past we have few exports, accounting for about one in ten, only the supply of strategic customers Last year, exports increased by ten times, more than two thousand tons.
Now, titanium dioxide has entered the March season. For the season sales, Bai Li Union Secretary Shen Qingfei said the product may be more tense.
While the international giants face the season has been ahead of the market layout. Komor, Huntsman, and Kotter three titanium dioxide giants are announced in February, from March 1 on the sale of titanium dioxide products to raise prices, including the Asia-Pacific region price increases per ton in the 150 US dollars -200 US dollars between.
Supply and demand quietly reversed
Once a serious excess capacity and lead to the collapse of the price of titanium dioxide why the recent year prices have repeatedly? Supply side reform plays an important role.
"Logic is also very simple. Tight supply and demand, raw material prices, oligopoly market, environmental protection, these factors have to promote." A broker researcher on the SSE reporter said.
At present, the global production capacity of titanium dioxide is about 7.3 million tons, while China is close to half, about 330-350 million tons. China's titanium dioxide production scale is large, but the industry concentration is low, the enterprise scale is generally small. Looking abroad, the overall concentration of titanium dioxide industry, the top five international titanium dioxide production capacity of global total capacity (except China) more than 80%, oligopoly market obvious.
Huaan Securities Research reported that the titanium dioxide industry in 2010 before the high yield to attract a large number of manufacturers influx, capacity disorderly expansion, new capacity in 2012 to 2015 after the release of titanium dioxide prices plummeted, the industry boom continued Down. In the past two years, the Chinese government has continuously strengthened the supply side reform and environmental protection, issued a number of production specifications and guidance on the titanium dioxide industry, and the titanium dioxide production enterprises to develop a clear production capacity standards, in this round of adjustment of domestic production capacity Close to 360,000 tons. Currently on the market capacity of less than 50,000 tons of enterprises a total of 688,000 tons of production capacity, the future part of this capacity can be eliminated by reducing the overall capacity of about 20%.
Reduced supply demand for a relative increase in demand. The end of 2015, due to India, Brazil and other emerging market demand increases, the domestic real estate to inventory effect began, domestic and international downstream demand began to gradually release. In the face of the global market to pick up, the international oligarchs in the end of 2015 the first price increase, the domestic leading dragon python titanium industry in January 2016 began to raise prices, opened the round of the price rise of the prelude.
In addition, the raw material titanium concentrate prices, environmental protection, and so are also raising the price of titanium dioxide.
Sichuan, a titanium dioxide production business executives Zhaojing Li told reporters on the SSE: "Titanium cost of titanium dioxide to account for about half of the price, titanium ore price per ton from 2016 minimum only four or five hundred dollars rose to the present 1500 Yuan or more, (or) is not small now titanium dioxide is too hot, our own titanium is not enough, titanium prices have to rise.
"Our imports of ore prices are high, last year when the low only four or five hundred, now to one thousand five six, more than doubled." The manager of the above also talked about titanium prices rose.
Industry insiders, due to sluggish demand, the end of 2015 titanium prices also fell to the bottom, small factories have closed down, making titanium supply capacity affected. 2016 by foreign exports, environmental policy tightening, especially in the domestic real estate industry recovery, titanium dioxide supply and demand reversal, leading to the current shortage of titanium concentrate.
Domestic leading companies, Bai Li Lian and Long python titanium industry after the merger of the existing capacity of 560,000 tons, ranking first in Asia, the world's fourth. The remaining large enterprises, Jinpu Titanium 180,000 tons capacity, Shandong Dongjia 16 million tons, 15 million tons of nuclear titanium (in the construction capacity of 150,000 tons). Although Bai Li Lian completed the merger with their own titanium resources, but most of the company titanium concentrate is still all rely on external mining.
February 28, the latest data show that one of the three domestic titanium concentrate production enterprises in Sichuan Anning Titanium Company this week for two consecutive increase in titanium concentrate offer, each raised 100 yuan / ton, the latest offer for 1750 yuan / Ton, this week rose nearly 13%. Compared with the beginning of this year, titanium concentrate prices rose about 34%, compared with the beginning of 2016, the cumulative increase of up to 230%. The industry said that the current demand for titanium dioxide will continue to maintain high demand for titanium concentrate.
Lithium titanate "snatch"
Titanium dioxide demand structure is, paint accounted for 60%, plastic accounted for 20%, paper accounted for 7%, high-end ink accounted for 3%, the rest accounted for 10%. Which demand for the sale of titanium powder is essential, so the hot and cold real estate market will seriously affect the price of titanium dioxide.
Last year, the hot end of the property market began to gradually convey to the decoration part of the paint market boom to pick up the demand for titanium dioxide growth.
It is noteworthy that, in addition to the relatively strong traditional needs, lithium titanate battery sudden emergence, began to "share" high-end titanium dioxide market.
Reporters survey found that the domestic titanium dioxide enterprises, Bai Li Union has taken the lead in the field of lithium titanium dioxide dedicated titanium dioxide powder, which is the high-end demand for titanium dioxide, after a small output, 10% of the demand is a small part.
According to Bai Li Lian introduced, the company's products in the proportion of terracotta titanium dioxide has been as high as 90%, and the company will continue to upgrade product technology. July 2016 the company signed a cooperation framework with the technology agreement, into the high-end lithium titanate battery dedicated titanium dioxide market. Information on the current reporter's point of view, this market is expected to develop into a very large application of titanium dioxide field.
Zhuhai Yinlong is the leading domestic enterprises of lithium titanate batteries, the company acquired by the heat and heat, as many new energy automotive industry focus. Lithium titanate battery on the future needs of the future, the company responsible person Zhangjing Li told reporters on the card: "In June this year, the company's total production capacity will reach 10,000 tons, the demand for titanium dioxide is about 12,000 tons. Lithium titanate batteries on the demand for titanium dioxide doubled year by year, so the future market space is very large, but also shows the market for titanium dioxide used in lithium titanate battery technology recognition.
In addition to Zhuhai Yin Long, the Hong Kong stocks are the right way to strengthen the layout of the market in China. At the end of 2016, Zhengdao Group and Anhui Tiankang set up a lithium titanate battery joint venture, to the domestic integrity of the introduction of the United States lithium titanate battery technology and production technology, registered capital of 360 million yuan.
Jingwei shares recently disclosed that the company intends to invest 540 million yuan and the right way group, caused by cloud management in Ningbo City Fenghua District to set up a battery company to produce lithium titanate batteries, the total investment of 2 billion yuan.
Among the other listed companies, CITIC Guo Anzi Union solid profit has achieved sales of lithium titanate battery, the public and shares subsidiary Shenzhen Tianjiao has 150 tons of lithium titanate production capacity, China's Baoan's Shenzhen Bei Terui has lithium titanate production capacity 1000 Ton.
Lithium titanate batteries in addition to the application of new energy vehicles, the larger application market should be trillion energy storage market. According to industry experts, and power battery is different from the battery energy battery life, low cost, high safety performance, and lithium titanate battery energy in these areas is very obvious advantages.
To the pursuit of energy density as the main goal of the power battery, the cycle life of more than 1000 times. Lithium iron phosphate battery, for example, the cycle life of not more than 3000 times the life of 7 to 8 years. But the life cycle of lithium titanate batteries in more than 25,000 times, life expectancy of 30 years, long cycle life is more in line with the field of industrial energy storage applications.
Industry consolidation accelerated
Titanium dioxide industry recovery, the new wave of mergers and acquisitions wave also quietly come. Recently, Tenova announced the acquisition of Kotter titanium powder business for $ 1.663 billion in cash, both of which will replace Como as the world's largest producer of titanium dioxide, with an annual capacity of 1.3 million tonnes / year.
In the country, Bai Li Lian has become the industry's absolute leader, but also beyond the Conus is among the world's fourth largest producer of titanium dioxide.
Yang Jingli where the enterprise is the forerunner of the domestic chlorination of titanium dioxide, he clearly on the card reporter said that the second half of the year or 2018 the company will build a 60,000 tons production line, about three or four years to build a 100,000 tons production line, And do not rule out this period to do domestic and foreign mergers and acquisitions.
Industry insiders said that with the environmental protection requirements to enhance the domestic titanium dioxide industry consolidation and reorganization is the trend, the advantages of enterprises through mergers and acquisitions gradually to the international industry oligarchs closer, and ultimately reached several oligarchs "dominate the status", its bargaining power is more powerful The
The face of a huge increase in titanium dioxide, there are investors began to cautious. But the industry told reporters that the current price of titanium dioxide seems to be huge, but compared to the previous price of 23,000 yuan there are many distance, and now is entirely the whole industry chain supply and demand tends to be reasonable, the price of rational return to the value, Rather than man-made speculation, would like to return to the price of less than ten thousand yuan is almost impossible.