27 August 2010 23:26 [Source: ICIS news]
HOUSTON (ICIS)--Titanium dioxide (TiO2) producer Cristal intends to implement a price increase of 6 cents/lb ($132/tonne, €104/tonne) in North America and other price hikes globally, effective on 15 September, citing ongoing supply constraints, the company said on Friday.
Other planned increases announced by Cristal were €200/tonne in eastern and western Europe, including Turkey and North Africa, and $150/tonne in Russia, the Middle East and other regions of Africa.
Huntsman previously announced similar global price increases, effective on 1 September.
“I am surprised that TiO2 has had such successful upward movement in pricing,” a buyer said, given comparatively soft demand from the architectural coatings segment - the largest end market in North America – and dismal housing statistics. “As long as producers can control the inventory and somebody does not get greedy - lower prices to gain market share - who knows how high it will go.”
The last increase in North American prices was a 5 cent/lb gain implemented in June. Prices in Europe, Asia and elsewhere also have been steadily rising.
Other US suppliers of TiO2 include DuPont, Kronos and Tronox.
($1 = €0.79)
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