11 January 2013 23:59 [Source: ICIS news]
LONDON (ICIS)--European titanium dioxide (TiO2) contract prices have dropped by €0.20/kg ($0.27/kg) reaching €2.55-2.60/kg free delivered (FD) northwest Europe (NWE) because of lower raw material costs and poor demand, sources said on Friday.
The cost of feedstock rutile and ilmenite has dropped by about 20-30% on average since the middle of last year, which has resulted in continued pressure on TiO2 prices, according to sources.
Several paint, plastics, paper and masterbatch producers said that they have been targeting reductions for the past few weeks and most of them achieved this without major difficulties.
Some larger accounts that buy full truckloads of material and several thousands of tonnes per year have settled at lower numbers, close to €2.25-2.40/kg FD NWE, but the majority of contracts finalised at around €2.50-2.65/kg FD NWE.
($1 = €0.75)
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