09 December 2009 21:48 [Source: ICIS news]
HOUSTON (ICIS news)--Two more producers of North American titanium dioxide (TiO2) announced on Wednesday their intent to raise prices by 6 cents/lb ($132/tonne, €90/tonne) on 1 January or as contracts allow.
Neither producer could be reached for further comment, but both have said increases were needed to restore profitability to their businesses.
The announcements were in addition to previous broad market initiatives of plus 5 cents/lb for 1 October that remained in contention.
A buyer said he had fully anticipated other producers would follow DuPont’s effort to raise prices within the first quarter of 2010, but customers were uniformly sceptical.
“They might have to wait until February or March to get this increase,” said a buyer in the architectural coatings sector, the largest market for TiO2. “And even then, it will be difficult. Demand in North America is just nothing.”
Other TiO2 producers include Tronox and Huntsman.
($1 = €0.68)
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