ISK announces $150/tonne hike for TiO2 in Asia

13 June 2008 05:13  [Source: ICIS news]

SINGAPORE (ICIS news) -- Japan’s Ishihara Sangyo Kaisha (ISK) has announced a $150/tonne price increase for titanium dioxide (TiO2) in Asian markets effective 1 July, on the back of high raw material and freight costs, the company said on Friday.

 

“Despite our improving efficiency and productivity, the price increase is necessary to cover the sustained impact of unexpected and significant increases in costs of raw materials, energy and freight,” the company said in a statement.

 

ISK had nominated a $150/tonne price increase for Asian TiO2 for the second quarter (Q2) of 2008, and has achieved around two-thirds of its target, a company source said.

 

The company was optimistic about achieving its price target for Q3 due to strong demand in Asian markets, especially China and India, the source added.

 

Asian TiO2 prices were at $2,175-2,475/tonne CFR (cost and freight) Asia last Friday, up $75/tonne from a week earlier, according to global market intelligence service ICIS pricing.

 

ISK’s plants at Yokkaichi, Japan and Singapore, have a total annual TiO2 capacity of 220,000 tonnes.

By: Prema Viswanathan
+65 6780 4359

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