On April 29, Tianyuan Stock plans to invest 931 million yuan in a waste salt comprehensive utilization project to properly treat waste salt generated during the production of chlorination-process titanium dioxide. The project will be constructed in phases, integrating a comprehensive waste salt utilization facility with a 200,000-ton/year ion-exchange membrane caustic soda production line, with a construction period of 24 months.

Chempricehub analysis on titanium dioxide: Bullish/Bearish Score: +0.5. This project treats waste salt from chlorination-process titanium dioxide production, reducing environmental compliance and waste disposal costs, which may enhance producer margins and slightly increase supply willingness, generally providing a bullish impact on spot prices. Cost optimization is expected to gradually materialize after the construction period, supporting stable or modestly rising prices.

Caustic soda: Bullish/Bearish Score: -1.5. The project's co-production of 200,000 tons/year of ion-exchange membrane caustic soda will add new supply, exacerbating market supply-demand balance and exerting significant downward pressure on spot prices. In terms of futures, considering the current market conditions (e.g., the 2607 contract closing at 2,026 yuan/ton, up 5.00%), although short-term prices have risen, the expectation of new capacity will curb future gains, leading to downward pressure on futures prices, resulting in generally bearish to significantly bearish impacts.