Cristal Global, the world’s second-largest producer of titanium dioxide and a leading producer of titanium chemicals, has announced that it will implement a surcharge and raise titanium dioxide (TiO2) product prices, beginning July 1, to offset "dramatic" raw material, energy and feedstock cost escalation.
The Saudi company, which looks set to takeover the Australian mineral sands miner, Bemax, said that unprecedented raw material and freight cost increases, including sulphur, natural gas, and energy, combined with the strength of the Real, Cristal Global will apply a $200 per ton raw material surcharge on all sulphate products produced at its plant in Bahia, Brazil. Separately, a price increase of $150 per ton will be applied on all its chloride products imported into the region, also effective on July 1, 2008.
John Hall, Vice President of Sales & Marketing, said, "The spot price of sulphur has increased by approximately 1000% over the last twelve months and we are unable to absorb such a dramatic increase any longer.” He added that Cristal Global will monitor the situation every quarter and determine if any further actions, in either direction, are needed.
This surcharge and new price increase are in addition to previously announced price increases.
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