Problem is, Iluka act and behave like a market leader in zircon, but they don't do the same in rutile.
The rutile market is arguably as tight as the zircon market, and while prices for both were similar two years ago, today we have a ~$1,400/tn zircon price but only a ~$1,000/tn rutile price. Iluka really should have done more to lift the rutile price in the last 2 years as volumes declined and while pigment producers were making good money. The 14% increase for H2 is welcome news, but unfortunately it only offsets the decline in production/sales volume. It needs to be followed by a similar increase at the beginning of 2019.
Problem is, Iluka act and behave like a market leader in zircon,...
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