09 June 2008 22:54 [Source: ICIS news]
HOUSTON (ICIS news)--Huntsman Pigments has joined a group of titanium dioxide (TiO2) producers to raise prices amid soaring energy and raw materials costs, with an announced increase of 5 cents/lb ($110/tonne) from 1 July for product sold in North America, the company said on Monday.
North American TiO2 buyers have been reluctant to accept the spate of mid-summer increases, citing a soft US economy.
The increase for July would be in addition to a $75/tonne fee on Huntsman's TiO2 products sold in all regions except Europe from 23 June, and adds to previously announced price increases totalling 17 cents/lb since July 2007, none of which have been taken by buyers who make or sell architectural coatings.
The European surcharge is €50/tonne ($79/tonne), also effective 23 June, the company said.
"We have some price protection," the buyer said, "so we will be negotiating the price announcement."
Surcharges, however, have been coming regularly from its raw materials suppliers.
"It's getting a little difficult to figure out exactly what you are going to pay month-to-month," the buyer said. "The surcharges add to the confusion."
Other US TiO2 producers include DuPont, Cristal Global - Millennium Inorganic Chemicals, Tronox and Kronos.
($1 = €0.63)
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