On November 7, LB Group (002601.SZ) said in an investigation that the price of domestic titanium ore is expected to maintain a slight fluctuation in the existing price in the future, and the price of imported titanium ore will remain high; the current monthly production of titanium chloride in Panzhihua reaches about 10,000 tons, and it has been used for the production of titanium dioxide by the chloride method, and the subsequent production capacity will be increased to 300,000 tons/year; as of the first half of 2022, the company’s total production capacity of titanium dioxide has reached 1.11 million tons/year, and it is expected that the output of titanium dioxide will exceed 1 million tons in 2022 and reach about 1.3 million tons in 2023; the company has built an 800-ton/year vanadium pentoxide production line, the vanadium ilmenite concentrate alkaline pellet wet process with an annual output of 30,000 tons of V2O5 innovative demonstration project to be invested and constructed in Panzhihua, Sichuan, and it will be completed and put into production in two phases.
According to Longbai Group, the company’s revenue in the first three quarters was 18.030 billion yuan, a year-on-year increase of 18.80%, and the net profit attributable to the parent was 3.173 billion yuan, a year-on-year decrease of 17.17%. The company maintained full-load production in the first three quarters, and the production and sales were basically balanced. In the third quarter of 2022, the price of titanium dioxide was adjusted back, the average price of main raw materials rose, the price difference of the company’s products was narrowed, and the decline in gross profit margin led to a decline in profits. In the first three quarters, the titanium dioxide segment accounted for 69.03%, iron products accounted for 9.66%, sponge titanium and titanium tetrachloride accounted for 8.65%, zirconium products accounted for 4.68%, and other products accounted for 7.99%. Regarding the price trend of titanium concentrate in the future, Longbai Group said that due to the impact of the global economic recession and energy crisis in the future, the domestic titanium ore price is expected to maintain the current price, fluctuate slightly, and the imported titanium ore price will remain high.
Regarding the application fields of vanadium pentoxide and the company’s layout in vanadium flow batteries, Longbai Group pointed out that since photovoltaics and wind power will drive the rapid development of the energy storage industry, vanadium batteries are expected to enter an explosive period, thereby driving the growth of demand for vanadium pentoxide. The company’s vanadium-titanium-magnetite mine in Panzhihua is the largest vanadium-titanium-magnetite mine in China. As of the end of 2021, it has 133.1072 million tons of vanadium-titanium-magnetite resources, including 323,600 tons of vanadium-containing metal oxide resources. The company has the technology and production capacity to extract and recover vanadium from waste acid. The waste acid produced by chlorination titanium dioxide contains 3,000 tons of vanadium resources every year. At present, it has built an 800-ton/year vanadium pentoxide production line. At the same time, the vanadium ilmenite concentrate alkaline pellet wet process with an annual output of 30,000 tons of V2O5 innovative demonstration project to be invested and constructed in Panzhihua, Sichuan, and it will be completed and put into production in two phases.
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