If we are to get a statement from KMR next week, I have to say, the run up so far on sp is disheartening. With the info that's out there on the commerce around heavy minerals over the past year, and next year, either no one has any faith in the KMR board or the city scribblers (MM's) are thicker than I thought. It is remarkable that a company almost down and out 2 years ago is approaching a position to clear most of its debt and is running into a potential highly profitable year, yet is sitting on virtually the same REAL sp. Its peers have seen considerable jumps in sp, yet KMR languishes. Its also not Mozambique as PFP has shown an 80% increase in the past year. Without getting into the guessing game as to �3,�4,�5 targets in the next 6 months, has anyone got a meaningful insight as to why this is, and what might the future bring? Its a tough question but the Nosi's and Peace's views are still worthy of a listen to....despite the fact that I may not agree.
Some of these directors need to stick their hands in their pockets and buy some shares. Its the kickstart that this share needs. It would also show confidence in the future and catch the eye of plenty of investors. Are they in a closed period now?
Titanium dioxide buyers scramble for limited supply By WILLIAM CLARKE Published: Friday, 06 October 2017 Print | Email | Comment | Share Tweet inShare Titanium dioxide markets are reportedly very tight, as sellers focus on serving existing customers. TiO2 sellers have reported a strong return to demand in Europe after the summer break, with producers reportedly booked out until the end of the year. Earlier this year traders and producers told IM that the state of demand in September would set the pace for the rest of the year. And attendees at the TiO2 World Summit in Alicante, Spain, suggested that demand had been very high, with buyers increasingly less worried about quality or price, as they strove to rebuild inventories. "I feel like I could sell a million tonnes of TiO2, if I had it," one trader joked. Industrial Mineral's Cif Northern Europe price is holding near multi-year highs of �2,700-3,190, with few physical deals reported due to the shortness of product. Titanium dioxide supply in Europe has seen a number of bottlenecks. Local production has been hit by a fire in Pori, Finland, run by Huntsman�s pigment business Venator. The fire, which took place early in 2017, knocked out 130,000 tonnes of capacity from the European market, or about 10% of total demand. The Russian annexation of Crimea further reduced availability of Eastern European TiO2, attendees at the conference said. At the same time, availability in China has been squeezed by ongoing environmental inspections, just one of many chemical and mineral exports which has suffered as a result of a government drive to reduce pollution from industry. The result is a seller�s market for titanium dioxide producers in Europe, with buyers reportedly going to great lengths to court producers, who are more interested in supplying their existing customers. One producer told IM his company had no physical product available, and would not for the rest of the year. "One year ago most of our business was physical," he said. And a trader reported that shipments were being booked from China without being tested for quality, with the cargo only being examined after dispatch, in a drive to limit lead-times. Demand gears up Demand for the white pigment tends to slow over the summer, with buyers in Southern Europe on holiday. September usually sees a tick-up in activity, before slowing down again over the winter. But sellers said that demand now looked set to hold strong through the balance of year. And a salesman for a major TiO2 producer told IM that his job had become one of logistics, rather than sales, as they focused on getting supply to existing suppliers. "I�ve been telling my [representatives] not to add new clients," he said. With demand outpacing supply, buyers are growing increasingly neutral on quality, with all grades in heavy demand. "They aren�
October 2017 TZMI Market Update Supply disruptions continue to impact market Global independent industry advisory firm TZ Minerals International (TZMI) released its latest Market Update for the titanium and zircon value chains. The past quarter has been marked by supply tightness and strong demand for titanium feedstocks. Global TiO2 pigment producers have enjoyed robust seasonal conditions and this in turn has bolstered demand for feedstock products. Supply disruptions continued to affect the TiO2 pigment industry particularly in Europe and more recently in China where environmental policies have forced the suspension or shutdown of a number of pigment facilities as well as those of ilmenite processors. TZMI has increased its forecast for zircon demand in 2017 following a tighter than expected market so far this year.
India has escalated African ilmenite imports to fill a domestic shortfall as prices firm. Meanwhile seaborne ilmenite bound for China is set to rise in price amidst supply constraints and environmental clampdowns in China. Ilmenite prices have firmed in September after a period of uncertainty that resulted in a widening of price ranges and a short-lived period of stagnation. Prices have began strengthening since the start of the month on the back of Chinese mine closures as well as declining Chinese and Vietnamese supply, said one supplier. While price ranges reported by Industrial Mineral's were unchanged 27 September, following a slight uptick the previous week, market participants spoken to unanimously agreed that the market was firmer than it had been over the summer Output from Panzhihua in China has declined as much as 30%, with Vietnamese shipments declining by up to 75% in volume month-on-month. This combined with mine closures have been enough to tip the scales towards a supply tightness, despite TiO2 plants simultaneously being shut down. A second supplier told IM that while price rises are predominantly supply-driven, a strong demand in the lead up to winter has also contributed positively. In addition, synthetic rutile (SR) producers in India have begun expanding ilmenite imports from Kenmare in Mozambique, Rio Tinto in Madagascar and Base Resources in Kenya, according to one trader. While high TiO2 ilmenite already flows from Kenmare to DCW Ltd in Tuticorin for SR production, the uncharacteristic increase in imports has come about as a result of local product restrictions, combined with a strengthening in global demand for SR. Local restrictions have resulted in 600,000 tonnes or more being removed from the market, a second trader told IM, resulting in upward pressure on prices. A third trader told IM that there are also talks of "heavy mineral producers/exporters in Tamil Nadu discussing with the producers in various Africa countries to import and process those minerals in India. "These talks have been going on since the beginning of the year but so far no concrete deals have taken place." This seemed far-fetched to some, with another market participant stating they "do not see it" considering that "processing African minerals rich in ilmenite in India would be expensive as they have to be moved three times: first to the Indian port, second to the processing plant and third to the SR plant" Industrial Mineral's 54% TiO2 ilmenite price is between $190 and $205/t CIFChina, with one supplier locking in contracts at $200/t for September/October shipments. This compares with a range of $170-200/t at the start of the month. Crude ilmenite. which IM does not assess, is trading at around US$89/t CIF China, according to one trader.