TiO2 Suppliers Announce New Round of Price Hikes
DuPont Titanium Technologies, the world's biggest TiO2 producer, also announced price increases of $100/metric ton in Asia Pacific, Mexico and South America; $130/mt in Central America and the Caribbean; 110 euros/mt in Europe; and $150/mt in the Middle East and Africa.
DuPont said the price increases are the result of rising raw-material costs, economic expansions that are driving "very strong global TiO2 demand," high capacity rates, and "reinvestment economics required for capital funding to support industry growth."
Similar statements were issued by other suppliers. "These price increases are necessary to improve margins, which must increase in order to justify future investments in additional capacity and to offset increases in costs," number-two producer Millennium Chemicals said in announcing its price moves. Huntsman Tioxide said the price hikes "reflect both strong global market demand and the significant impact of raw material, energy and freight cost increases."
In the price moves: