Recently, several major global producers of titanium dioxide, Cristal Global, DuPont, Huntsman, Teno, and Kronos released the second global price increase this year, April 1. Effective. Industry insiders believe that titanium dioxide producers will continue to increase their selling prices in the face of tight global supplies and rising raw material costs.
According to industry analysts' forecasts, in the next few years, the global demand for titanium dioxide will increase at an average annual rate of 3% to 4%. In the past two years, some titanium dioxide producers have permanently shut down part of their production capacity due to high operating costs or environmental issues. Then, in the first half of 2009, customer inventories have dropped significantly, which has caused tight supply across the industry.
Huntsman Chief Executive Peter Huntsman stated on February 17th that the company’s earnings announcement for the fourth quarter last year indicated that the global supply of titanium dioxide was unusually tight and that this situation will continue in the future. Although the start-up of the equipment in this industry is now close to full capacity, the inventory is still less than 40 days. This phenomenon has not been encountered for many years. In Asia, although the production capacity of titanium dioxide in China is increasing, due to the shortage of titanium ore and the suspension of production of some plants, the market supply is still tight and the price of titanium dioxide has risen sharply. Peter Huntsman pointed out that the shortage of titanium concentrate supply will be a long-term problem facing the industry. He expects that the price of titanium dioxide raw materials will increase by about 20% by 2012.
Many in the industry hold the same view, they believe that the cost of titanium ore will double within four years. DuPont recently stated that the raw material market is dominated by low-grade ore, and the supply of high-grade ore will be more tense in the future.
At the end of February, DuPont announced that it would raise the price of titanium dioxide in North America by 15 cents/lb. The price in Asia Pacific and Latin America will increase by US$300/ton. Koster’s price increase plan in Saudi Arabia is to raise the price of titanium dioxide in North America by 15 cents/lb.; to increase the price in the Middle East, Africa, and the Asia-Pacific region by US$300/ton; and in the Oceania region by US$400/ton. Similar price increases include Teno's: Latin America, Asia-Pacific and Australia prices rose by 300 US dollars / ton; Europe, the Middle East and Africa increased by 225 euros / ton; Japan's market price increases by 40 yen / kg. Huntsman's current price increase for the European region is 175 euros/ton. Kronos will implement the same price increase rate for all regions, and the total price in the Asia-Pacific region, Latin America, the Middle East and Asia will increase by US$200/ton.
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