Price hikes for TiO2 as chemical companies fight falling demand
22/02/2013
Kronos Worldwide is also putting prices up, affecting all TiO2 products sold in Europe.
Huntsman said the following increases are effective 15 March, 2013 or as contracts allow: Europe: €230 per tonne or $300 per tonne in dollar-based markets; North America: $0.10 per pound and C$0.10 per pound; Asia-Pacific: $300 per tonne; Africa, Latin America and Middle East: $300 per tonne.
Kronos said its prices will increase by a minimum of €200 per metric tonne (or equivalent in other currencies) from March 1. In the US dollar markets of Eastern Europe, the price increase will be $250 per metric tonne.
Huntsman, with facilities in the US, England, France, Malaysia and South Africa, is the third largest TiO2 production company in the world; Kronos is the fifth largest, with six manufacturing sites throughout the US and Europe.
The pigment industry has been under pressure since March 2012, due to slow demand and excess inventories, which has led to a sharp decline in prices. Market leader DuPont is better able to cope with this, due to its sophisticated manufacturing facilities and ability to react quickly to the market, it has been reported. DuPont faced criticism about the timing, but is set to increase capacity by building a new plant, due to start production by 2014.
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