Zircon
Premium grade and standard grade zircon prices have shifted upwards slightly this month, reflecting the upward movement in the market. Zircon prices have become a tale of two markets at the moment, with a differential marked between Europe and China. There is also a noticeable tightening in supply.
Premium grade zircon prices in China are now reaching over $1,000/tonne for material FOB Australia, with buyers accepting price rises, seeking to secure material. In Europe, however, the $1,000/tonne has not yet been achieved as many buyers are trying to resist the upward price movement but still top end prices have shifted and are now closer to $970-980/tonne, FOB Australia.
However, the overall trend appears to upwards. IM has learned that Iluka Resources Ltd, the leading supplier worldwide, is already looking at product shortages going into the fourth quarter and South African supplier Richards Bay Minerals could...