12 April 2013 23:59 [Source: ICIS news]
LONDON (ICIS)--European titanium dioxide (TiO2) prices have dropped by €0.05/kg ($0.07/kg) because of poor demand and oversupply, sources said on Friday.
Producers' initial price increase targets of €0.20-0.25/kg have largely been rebuffed, as buyers said they could switch suppliers if their own were adamant about increasing.
Western European suppliers' TiO2 is offered at €2.35-2.50/kg free delivered (FD) northwest Europe (NWE).
In eastern Europe, product is offered at €1.95-2.20/kg delivered, duty paid (DDP). The lower end of the range represents Slovenian and Ukrainian material while the higher end is for material from Poland.
This is now considered the bottom of the market, and further price decreases are unlikely because producers cannot afford to do so.
($1 = €0.76)
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