钛原料生产者的比较成本调查

本报告提供钛原料领域的生产者的成本对收益分析等资讯。

目录

摘要整理

调查手法

钛原料市场基本面

• 全球氧化钛颜料的生产
• 原料的需求趋势
• 原料的消费:各最终用途
• 原料的供给趋势
• 2021年的原料交易
• 原料

成本和盈利曲线

• 2021年的成本调查对象的运用
• HMC的生产成本
• 矿物分离厂房的成本
• 矿物生产的总现金成本
• 矿物生产的现金成本概要
• SR和矿渣生产者的成本
• 钛铁矿的加工费:矿渣生产者
• 钛铁矿的选矿:欧美 vs 中国
• 钛铁矿的加工费:SR生产者
• 钛铁矿的选矿:欧美 vs 印度
• 运输成本
• 运用的总现金成本
• 运用的平均现金成本
• 纯现金成本
• 钛铁矿

产业的成本竞争力

• 成本竞争力指标
• 正规化的纯现金成本
• 现金保证金
• 产业加重R/C比率
• R/C比率曲线
• R/C比率曲线的比较:2019年～2021年
• R/C比率:各生产者群组
• R/C比率的变化
• 未来的产业R/C曲线的预测
• 长期加权平均R/C比率
• HMC

结果的影响因素

• R/C比率的影响因素
• 2021年的原料价格
• 们产品收入
• 人事费用
• 电力价格
• 汇率
• 钛铁矿加工费的削减
• 石墨电极的价格
• 高纯度生铁的价格上升
• 氧化钛

温室效应气体排放量

• 温室效应气体排放量的估计调查手法
• 温室效应气体排放量:各生产者群组
• 温室效应气体排放量:各生产者
• 温室效应气体排放量:各地区

主要原则和定义

• 主要原则
• 定义

“Titanium Feedstock Producers Comparative Cost Study” (FCS) reviews cost versus revenue analysis for producers across the titanium feedstock sector. It is the only study of its kind undertaken annually. The number of operations included varies year-on-year, and in 2022 there were 36 operations reviewed. For the first time, TZMI has estimated greenhouse gas (GHG) emissions for all 36 operations included in the 2022 study.

The study provides:

• A detailed explanation of TZMI's methodology employed to maintain consistent comparisons of operating costs across the entire titanium feedstock industry.

• Informed discussion about the parameters used for comparing relative competitiveness in the industry.

• Updated cost data for the mineral sands industry from information and research garnered during the previous year.

• Commentary on the importance of co-product credits in the current market conditions (pig iron and zircon).

• Discussion on increasing operating costs, specifically energy and mining costs.

• An analysis of the effect of exchange rates on producer performance.

• An updated titanium feedstock industry cost curve - an invaluable tool for evaluating both existing operations and measuring the potential of new projects.

TABLE OF CONTENTS

EXECUTIVE SUMMARY

METHODOLOGY

TITANIUM FEEDSTOCK MARKET FUNDAMENTALS

• Global TiO2 pigment production
• Feedstock demand trend
• Feedstock consumption by end-use
• Feedstock supply trend
• Feedstock trades in 2021
• feedstock

COST AND PROFITABILITY CURVES

• Operations included in 2021 cost study
• HMC cost of production
• Mineral separation plant costs
• Total cash cost of mineral production
• Summary cash cost of mineral production
• SR and slag producers costs
• Ilmenite conversion costs: Slag producers
• Ilmenite beneficiation: Western vs Chinese
• Ilmenite conversion costs: SR producers
• Ilmenite beneficiation: Western vs Indian
• Transport costs
• Total cash cost of operation
• Average cash cost of operation
• Net cash costs
• Ilmenite

INDUSTRY COST COMPETITIVENESS

• Cost competitiveness measures
• Normalised net cash costs
• Cash margin
• Industry weighted R/C ratio
• R/C ratio curve
• Comparison of R/C ratio curve: 2019 -2021
• R/C ratio by producer group
• R/C ratio trend
• Future industry R/C curve forecast
• Long-term weighted average R/C ratio
• HMC

FACTORS AFFECTING RESULTS

• Factors affecting R/C ratio
• Feedstock prices in 2021
• Co-product revenue
• Labour costs
• Power prices
• Exchange rates
• Decreasing ilmenite conversion costs
• Graphite electrode prices
• High purity pig iron price increases
• TiO2

GREENHOUSE GAS EMISSIONS

• Greenhouse gas emissions calculation methodology
• Greenhouse gas emissions by producer group
• Greenhouse gas emissions by producer
• Greenhouse gas emissions by region

KEY PRINCIPLES AND DEFINITIONS

• Key principles
• Definitions