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According to the Securities Daily, when the domestic market demand is in the traditional off-season, titanium dioxide companies still willfully issue price increase letters to increase the price of titanium dioxide at the beginning of next year
Since the beginning of this year, titanium dioxide companies have raised market prices many times and made a lot of money
In the off-season, what are the factors that cause the price increase letter to come? What is the future trend of prices? How many rounds of titanium dioxide rose this year? Which titanium dioxide listed companies' performance and stock prices have risen with the tide?
External demand + supplier price increases cause companies to increase prices
Judging from the price increase letter issued by the company, the price increase of Longbai Group, China Nuclear Titanium Dioxide, Huiyun Titanium, Titanium Technology, Xilong Chemical, and Anada are the same, and the sales price of domestic customers has been increased by 1,000 yuan/ton.
Tian Xiaoyu, an analyst in the titanium dioxide industry of Zhuo Chuang Information, told reporters, "At present, domestic market demand is still relatively weak, and the main reason for supporting corporate price increases is the relatively optimistic growth of external demand
In the first 10 months of this year, the cumulative export volume of titanium dioxide showed a year-on-year upward trend for 7 consecutive months
According to Zhuochuang Information, since mid-to-early November, many large domestic manufacturers have increased their export efforts through flexible adjustment of FOB prices, and have obtained significant support from foreign trade orders.
The price increase of mainstream foreign suppliers is also one of the main factors driving the price increase of domestic enterprises
It is reported that, as of now, foreign titanium companies such as Chemours, Tenuo, Fannto, and Connors have announced that the price of titanium dioxide will increase from January 1, 2022
.
The upward adjustments are respectively US$300/ton, US$350/ton, US$350/ton and US$400/ton
.
In addition, the current spot inventories of various manufacturers are not high
.
Tian Xiaoyu said that the domestic production side still has a major factory equipment inspection and repair rotation plan, so the production link operating rate may be maintained at the level of less than 80%, which slowed down the growth rate of the rutile link inventory
.
Yantai Titanium industry analyst Yang Xun also said, "At present, the operating rate of manufacturers in East China, Central China, and Southwest China is not high, and production is limited in December, and there is a plan to stop production for maintenance.
The actual output may be reduced by 50%
.
"
Speaking of the later trend, Tian Xiaoyu told reporters, “Before and after the Spring Festival, the market price of titanium dioxide is still expected to increase, mainly due to the expectation of strong export support from February to March
.
However, it should be noted that domestic demand is not tepid.
Fire will not provide much motivation for price increases, so it is more difficult to implement all the thousand yuan increase in China
.
"
Prices have been raised many times during the year
According to statistics from Zhuo Chuang Information, the average price of sulfuric acid rutile titanium dioxide rose from 16,300 yuan/ton at the beginning of the year to a peak of 20,525 yuan/ton in 2021, an increase of 25.
9%
.
From the perspective of enterprises, since the beginning of this year, China Nuclear Titanium Dioxide has raised its product prices 8 times, of which the domestic price has increased by 7,200 yuan/ton, and the foreign price has increased by 1,180 US dollars/ton
.
In addition to China Nuclear Titanium Dioxide, Huiyun Titanium also raised product prices 8 times during the year, while Longbai Group has raised 10 times during the year
.
Many price increases have led to growth in corporate performance
.
The 2021 annual performance forecast previously disclosed by Longbai Group shows that the company expects a net profit of 4.
577 billion yuan to 5.
722 billion yuan in 2021, a year-on-year increase of 100% to 150%
.
China Nuclear Titanium Dioxide achieved operating income of 3.
985 billion yuan in the first three quarters of this year, a year-on-year increase of 46.
77%; net profit attributable to shareholders of listed companies was 1.
02 billion yuan, a year-on-year increase of 181.
37%
.
Anadar achieved revenue of 1.
453 billion yuan in the first three quarters, a year-on-year increase of 87.
91%; realized net profit attributable to shareholders of listed companies of 129 million yuan, a year-on-year increase of 152.
55%
.
Huiyun Titanium achieved operating income of 1.
151 billion yuan in the first three quarters, a year-on-year increase of 72.
66%; net profit attributable to shareholders of listed companies was 173 million yuan, a year-on-year increase of 168.
77%
.
Regarding the main reasons for the growth in performance, the above-mentioned companies all stated that the main product titanium dioxide market was in a prosperous cycle during the reporting period, and the sales price increased more year-on-year
.
When the price of main products continues to rise, this year, titanium dioxide companies have also used their own advantages to get together in the field of lithium iron phosphate and increase profitability growth points
.
The Northeast Securities Research Report believes that the proportion of lithium-ion battery energy storage represented by lithium iron phosphate batteries in China and the world's electrochemical energy storage has increased from 65% in 2016 to 89.
0% at the end of the first quarter of 2021, and the development momentum is strong.
.
However, titanium dioxide enterprises have natural advantages in the production of lithium iron phosphate across borders.
Waste acid, ferrous sulfate and other waste materials will be generated during the production of titanium dioxide.
After further processing, lithium iron phosphate can be made
.
A brokerage analyst told reporters, “The production technology threshold for lithium iron phosphate, iron phosphate, and other cathode materials for lithium batteries is not high
.
Relying on their own advantages, titanium dioxide companies use new energy materials such as iron phosphate/lithium iron phosphate as the entry point.
Switching the race track will open up the long-term development space and extend the business cycle
.
"
Transfer from: Securities Daily