29 August 2011 00:00 [Source: ICB]
EUROPE TIO2 BUYERS RESIST PRICE HIKES
European buyers said the titanium dioxide (TiO2) price hikes of €500/tonne ($714/tonne) for the fourth quarter sought by US producers Kronos and DuPont is completely unjustified. As of mid-August, European TiO2 prices have already risen by 37% to €2.75-3.00/kilogram FD (free delivered) NWE (northwest Europe) over the past six quarters. The increases were largely attributed to market tightness. Producers are now citing the additional strain of higher feedstock ilmenite and titanium ore costs, which have risen dramatically this year.
US CHLORINATED SOLVENT PRICE TO RISE
US spot prices for chlorinated solvents could further increase because of strong demand and tight supply, sources said. Methylene chloride price already rose by 15 cents/lb ($331/tonne, €232/tonne) in August from July levels. Prices for trichloroethylene (TCE) also moved up by 14-20 cents/lb to match those of related products such as perchloroethylene (perc). Each of the products hit record-high prices as of August 2 at 60-70 cents/lb FOB (free on board) for methylene chloride; $1.05-1.15/lb FOB for perc; and 91-95 cents/lb FOB for TCE.
JHINZHOU TITANIUM TO RAISE 2014 CAPACITY
China's JinZhou Titanium Industry Co. (JTC) plans to expand the capacity of its 30,000 tonne/year titanium dioxide (TiO2) plant in Liaoning province by the end of 2014. JTC will double its capacity to 60,000 tonnes/year by the end of 2011 and will then expand it by another 60,000 tonnes/year by the end of 2014. JTC received government approval to build another 200,000 tonne/year plant at the same site.
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