Titanium oxide prices set to rise by 2017
Posted on :Tuesday , 20th September 2016
Base Resources Ltd of Australia expects prices of titanium oxide mined in Kwale county on Kenya’s Coast to improve in the months leading to 2017.
The firm, which started production at the Kwale mineral sands project late 2013 has in the past one year been affected by depressed titanium oxide prices due to oversupply on the global market and reduced demand in China.
Base managing director Tim Carstens said there are indications of the market improving as global mineral sands stockpiles decline.
“Ilmenite is holding at around $90 per tonne above the $60 per tonne floor of the past 18 months, but shy of the $300 peaks of 2011 to 2012,” said Mr Carstens.
Feed stock for pigment
Rutile and ilmenite are feed stock for production of titanium dioxide pigment with small percentages utilised to make titanium metal, fluxes for welding rods and wire.
Pigment account for 90 per cent of titanium minerals demand and is the main driver of prices. Pigment prices have recently declined due to weak demand.
Titanium dioxide is the most widely used white pigment because of its non-toxicity, brightness and very high refractive index. It is an essential component of consumer products such as paint, plastics and paper.
The firm’s strategy for securing the Chinese market entails offering product for immediate delivery and in smaller volumes through the warehouse based in China instead of direct shipments from Kenya.
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