Why is the titanium dioxide market seeing repeated price hikes despite weak domestic demand?

Why is the titanium dioxide market seeing repeated price hikes despite weak domestic demand?
The 2026 price surge is cost-push, not demand-led. Sulfur prices spiked over 160% in half a year, pushing sulfuric acid to 1,063 yuan/ton, up 96% year-on-year. Since sulfuric acid accounts for 15-25% of sulfate-route TiO2 costs, producers faced losses of about 3,000 yuan/ton even after three rounds of price increases. Longbai Group led the hikes—three times in March alone, totaling 2,000 yuan/ton domestically and 350 USD/ton internationally—with 23 producers following. Domestic demand remains flat, tied to the property sector, but exports are the lifeline: 2026 Jan-Feb exports rose 6.14% to 335,300 tons, boosted by India's suspension of anti-dumping duties. The price floor appears confirmed, but a true demand-driven reversal awaits construction sector recovery.