Kronos, Tronox announce new TiO2 increases

26 June 2008 00:03  [Source: ICIS news]

HOUSTON (ICIS news)--The latest in a series of titanium dioxide (TiO2) price initiatives were announced on Wednesday by US-based pigment makers Kronos Worldwide and Tronox.

Kronos' surcharge of €40/tonne ($63/tonne) will be effective on 15 July, and its planned price increase of €50/tonne is scheduled to take effect on 1 August for its TiO2 sold in Europe, including Eastern Europe, the company said.

Tronox announced a $150/tonne (€96/tonne) price increase for 15 July for material sold in the Asia-Pacific region.

Like other TiO2 producers who have announced surcharges and price increases in recent weeks, both companies said the efforts are necessary to offset escalating energy, freight and raw materials costs.

Both companies said previously announced prices from as long ago as fourth-quarter 2007 were still being pursued.

A total of 17 cents/lb in US price initiatives have been proposed by producers since mid-summer 2007. None of those succeeded, however, except for a 2-3 cent/lb hike gained in late 2007 from the smaller plastics-compounding segment of TiO2 consumers.

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.

Other US TiO2 producers include Cristal Global - Millennium Inorganic Chemicals and Huntsman.

($1 = €0.64)

For more on TiO2, visit ICIS chemical intelligence
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By: Larry Terry
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