An uptick in demand from titanium sponge producers and low global inventory levels has put rutile prices under pressure, according to market sources.Prices for rutile have jumped into the New Year as producers push through annual increases, supported by a renewed surge in demand and ongoing low inventory levels. Latest prices for bulk rutile purchases (concentrate min 95% TiO2, FOB Australia) have been quoted at the upper end of $625-$700/tonne range, while bagged rutile rose to $775-820/tonne from a range of $760-805/tonne. Industry participants questioned attributed the sharp increase to a renewed surge in demand this year, particularly from producers of titanium sponge, a precursor metal product obtained in the process of transforming rutile, ilmenite...