08 February 2013 23:59 [Source: ICIS news]
LONDON (ICIS)--European titanium dioxide (TiO2) prices have been assessed €0.10-0.15/kg ($0.13-0.20/kg) lower at €2.40-2.55/kg FD (free delivered) NWE (northwest Europe) this week because supply is long and producers have been offering material at a reduced price, sources said on Friday.
A number of buyers have said they had renegotiated their contracts mid-January, because they noticed prices dropped during the European holiday period.
The TiO2 market in Europe remains long because of weak demand from the downstream paints, plastics, paper and other derivative industries. There is little hope for improvement in Europe this year because of continued macroeconomic uncertainties, falling car sales and declining construction output, sources said.
($1 = €0.75)
Follow Janos Gal on Twitter @janosgalICIS
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