The zircon market garnered new attention in 2011 as the widely-forecast shortages in global supply had a dramatic impact on prices for the mineral sand.
As demand for zircon continued to rise, especially in China, suppliers worldwide have been unable to keep up due to chronic lack of investment in zircon projects, which are largely tied to titanium mineral production.
This became most apparent in the third quarter, when IM reported that buyers had accepted price increases of around 40% following a hike announced by market leader Iluka Resources Ltd. This was followed by more moderate increases in the fourth quarter.
Zircon sand (standard grade, FOB Australia) is now being traded at...