Since April 2025, the operating rate of the domestic titanium dioxide industry has been gradually declining, with the overall industry capacity utilization falling below 60%. Currently, titanium dioxide prices remain in a downward trend, and downstream demand has entered a seasonal lull, leading to a weak supply-demand situation.

In July, downstream demand is expected to stay relatively weak, making a price rebound unlikely. However, as cost support gradually strengthens and production cut expectations increase, titanium dioxide prices may stabilize and stop falling.

Looking at the broader chemical market outlook, downstream restocking is expected to increase by late August, providing upward momentum for chemical products. Under continued low operating rates, supply and demand in the titanium dioxide market may gradually reach a balance, and there is a possibility of price increases by late August, driven by the broader recovery in the chemical sector.