For the second time in two weeks DuPont Titanium Technologies will raise prices in Asia for all titanium dioxide grades as the company tries to cope with increasing energy costs.
Effective July 15 the business unit of DuPont, which produces titanium dioxide for the paper, coatings and plastics industries, said on June 20 it will increase titanium dioxide prices by US$150 per ton in all Asian countries except China. In China the price will increase US$0.22 per kilogram. The increase is in addition to one announced on June 5.
In addition to energy costs, the company cited a force majeure declaration -- a clause that excuses a party from contractual obligations -- by "a major ore supplier" as a contributing factor to the price increase.
"The costs of energy and related goods and services have risen by 10% in a single week's time, forcing us into the unprecedented position of imposing a second price increase within two weeks," said Ian Edwards, global business director, DuPont Titanium Technologies. "The rate of change in energy costs far exceeds the rate of change in TiO2 (titanium dioxide) prices, and the gap between the two continues to expand rapidly in spite of the price actions taken to date."