Following are headline news of the Titanium Dioxide China Monthly Report:
AkzoNobel saw smaller decline in revenue in Q2 2013
AkzoNobel saw a YoY decline of 5.40% in revenue in H1 2013 while a smaller YoY decline of 4.43% in revenue in Q2 2013, mainly as benefited from the strong growth momentum in Asia Pacific region, which drove the demand for decorative paints, and the recovered auto sales in North America and China that pushed up the demand for automotive coatings.
Pangang Group delivered bad operating performance in H1 2013 and accounts receivable soared
Pangang Group delivered net profit attributable to shareholders of USD55.83 million, suffering a YoY fall of 52.71% in H1 2013. Accounts receivable soared by 191.29%, indicating TiO2 producers were in a weak position in the negotiation with customers under the weak TiO2 market.
Domestic TiO2 price edged down slightly from mid-July to mid-Aug.
In mid-Aug., domestic rutile TiO2 was quoted at USD2,472/t and anatase TiO2 was quoted at USD2,063/t, declining by approximately 0.80% and 0.72% respectively from mid-July.
Import volume of TiO2 saw massive decline while export volume declined slightly in June 2013
In June 2013, China imported 15,629 tonnes of TiO2. This number constitutes a massive decline of 28.21%. China exported 36,394 tonnes, representing a decline of 0.70% compared with the preceding month.
Tronox's adjusted loss decreased and gross margin improved in Q2 2013
Tronox's financial performance improved in Q2 2013 as benefited from the rebound of TiO2 demand, the vertical integration of its mineral sands business and the recovery of the zircon industry.
Shandong Qifeng maintained strong growth in H1 2013 as benefited from the falling TiO2 price
Shandong Qifeng's net profit attributable to shareholders continued to grow in H1 2013, increasing by 43.46%. This was mainly due to the further decline of domestic TiO2 prices and the recovery of the downstream furniture & floor board industry.
Kingfa sold 519,400 tonnes of modified plastics in H1 2013 with a YoY growth of 17.46%
Kingfa's total modified plastics sales volume increased by 17.46% in H1 2013. However, the profit attributable to shareholders declined because of the rise in operation costs, which exceeded the revenue increase.
Iluka's rutile production witnessed a YoY decline of 49.06% in H1 2013 due to the subdued global demand
Iluka's rutile production (including rutile and synthetic rutile) experienced a 49.06% YoY decline in H1 2013. Also, Iluka predicts a 27.27% YoY fall in the full-year sales volume, reflecting the sluggish market conditions for the TiO2 industry.
Dragged by lower TiO2 prices in Q2, DuPont plans to strip out its TiO2 business
Dragged by lower TiO2 prices in Q2, DuPont plans to strip out its TiO2 business.
Total titanium feedstock supply volume continues slide in June compared with that in May
The total titanium feedstock supply volume in China was 380,399 tonnes in June 2013, continuing its sliding trend in May.
GPRO Titanium succeeds in backdoor listing and starts trading since July 26, 2013
GPRO Titanium succeeded in a backdoor listing and started trading on July 26. Its shares surged 74.55% while its market value exceeded the market value of Henan Billions.
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