MOSCOW (MRC) -- Market participants in Ukraine expect prices of titanium dioxide (TiO2) to increase in April on the back of hryvnya depreciation and empting stock inventories, according MRC Price Report.
Converters and traders said they expected the price rise both Ukrainian and imported brands of titanium dioxide.
Price for imported brands of TiO2 will increase because of the exchange rate differences, despite the stability of prices in the foreign markets.
Many traders in the first months of the year were selling the material, which was bought at the old price.
Market sources confirmed the intentions of the Crimean Titan to change contract prices in April. Traders said the prices for Crimean titanium dioxide will be significantly increased from the middle of the month.
Spot price of titanium dioxide by brand the CRIMEA TiOx-220, CRIMEA TiOx-230, CRIMEA TiOx-280 in the domestic market were heard in the range of hryvnyas (UAH) 23,000-25,500/tonne CPT Kiev, including VAT. According to traders, prices for titanium dioxide are expected to UAH30,000/tonne CPT Kiev, including VAT in late April.
One of the reasons for the rise in price of Ukrainian material was the increase in gas prices for groups of companies Group DF, which includes Crimean Titan. Another important factor was the devaluation of hryvnya in the first quarter of 2014, the source added.