06 December 2010 23:59 [Source: ICIS news]
HOUSTON (ICIS)--DuPont announced on Monday that it would raise the price of its North American titanium dioxide (TiO2) by 10 cents/lb ($220/tonne, €165/tonne) effective 1 January, making it the last of the major domestic pigment producers to do so.
Although Huntsman was the first producer to announce January increases, it seeks an increase of only 8 cents/lb. The company said on Monday that it had not altered its initiative announced in early November, but had not ruled out an amendment.
“They will try real hard to make it all stick,” a buyer said, adding that resistance would do little to change the outcome.
Buyers’ objections have been more muted than during previous initiatives that have seen TiO2 prices rise steadily this year. If current North American initiatives of 8 cents/lb are fully implemented on 1 January as expected, domestic prices will have increased by about 20% in 2010.
Announced in September and October, those initiatives typically would take effect after 90 days of price protection, but some were heard to have been implemented already.
Given tight supply and sold-out positions among several producers, the price advantage was with producers for at least the next two years, Deutsche Bank said on 2 December, although buyers said the momentum was unlikely to last that long. The newest initiatives are usually implemented within 90 days of the effective date.
Current North American prices were assessed by ICIS at $1.30-1.44/lb.
($1 = €0.75)
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