22 February 2013 20:55 [Source: ICIS news]
HOUSTON (ICIS)--Huntsman’s plan to increase North American second-quarter titanium dioxide (TiO2) prices has a “zero percent” chance of success, a buyer said on Friday.
The pigment maker’s 10 cent/lb ($220/tonne, €167/tonne) initiative, effective on 15 March, garnered equally negative reactions from other buyers, many of whom planned an identical price-hike effort earlier in the week from Kronos.
Although first-quarter decreases of 10-13 cents/lb have been heard, the quarterly range has not yet been settled. Prices remain at the fourth-quarter level of $1.55-1.70/lb, as assessed by ICIS.
“They are just trying to stop the bleeding,” another buyer said of the producers’ second-quarter increase initiatives. “If the market doesn’t change, they don’t stand a chance of getting an increase.”
Conditions remain extremely soft, sources said, including weak demand and an oversupply of pigment.
Other North American TiO2 producers include Tronox, DuPont and Cristal.
($1 = €0.76)
For more on TiO2, visit the ICIS Plants & Projects database
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