Titanium dioxide prices in the Asian market skyrocketed due to high demand and limited stock availability. Prices in the Chinese market surged significantly, reaching 2875 USD /MT at the end of March, well above the USD 2015/MT level in January 2021.

However, the run rates improved after the Chinese government's consistent efforts to reduce electricity rationing in China. The demand forecast remained positive during the quarter, with inquiries coming in from both the local and international markets. As a result of the supply-demand mismatch, the FOB Wuhu debate for TiO2 rutile grade was decided at 3097 USD/MT at the end of the quarter.

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Scattering Power of TiO2 and Pigment Volume Concentration