06 October 2012 00:10 [Source: ICIS news]
HOUSTON (ICIS)--North American TiO2 prices dropped by an additional 5 cents/lb ($110/tonne, €85/tonne) for the third quarter, sources confirmed on Friday, as producers appeared eager to reduce excess inventories amid ongoing slack demand.
The reduction took domestic prices to a new third-quarter range of $1.90-$1.99/lb, as assessed by ICIS.
Despite the drops, buyers said the lower prices would not be a major factor in their purchasing decisions. Most were already letting stockpiles dwindle through the end of the year because of weak demand and in anticipation of potentially lower prices early next year.
US architectural coatings makers typically begin to restock their TiO2 in the first quarter of each year, ahead of the spring paints and coatings season.
North American TiO2 producers include Cristal, DuPont, Huntsman, Kronos and Tronox.
($1 = €0.77)
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