12 June 2008 22:38 [Source: ICIS news]
HOUSTON (ICIS news)--As titanium dioxide (TiO2) buyers responded to a spate of recent price initiatives and surcharges, Cristal Global announced on Thursday a surcharge on products sold specifically into the North American paper market.
Cristal, the world's second-largest TiO2 producer, said it would apply a 4 cent/lb ($88/tonne, €56/tonne) surcharge for its rutile TiO2 (Tiona RCS-P) and a 9 cent/lb surcharge for its anatase TiO2 (Sulfate Anatase) product used in paper and paperboard applications - both effective on 1 July.
The primary use of TiO2 is as a white powder pigment used in paints and coatings, but it is used to a lesser degree in plastics, paper, inks, fibres, food and cosmetics.
Cristal's announcement added to some sellers' blanket surcharges and 5 cent/lb price-increase proposals from all major producers for mid-June and 1 July, market sources said.
Like its competitors, Cristal said all of its recent price initiatives were needed to offset unprecedented increases in raw material, energy and transportation costs.
A total of 17 cents/lb in ?xml:namespace>
US contract prices for TiO2 have remained flat for most of the past year at 98-108 cents/lb, according to global chemical market intelligence service ICIS pricing.
($1 = €0.64)
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