Resumen de Iluka post bearish results, but expect minsand uptick for 2014
"While year to date rutile prices to the end of September are in line with the commentary provided by Iluka at the half, the current pricing environment has weakened, based on some producers [being] unable or unwilling to await demand recovery, to a level approximately 20% below the first half rutile weighted average price level of approximately $1,200/tonne," [Iluka] said.
"Lower production levels are in line with Iluka's previously announced operational adjustments, which reflect a major operational response to a cyclical low in market demand and the company's objective to draw down finished goods inventory, while preserving capacity to respond quickly to market demand recovery," Iluka said.
The company said that the Aurelian Springs, US deposit completed its pre-feasibility study (PFS) in Q3 2013, which revealed that the company's ilmenite is suitable for chloride-route pigment manufacturing, as well as sulphate route processing, which Iluka says "increases the marketability of the product significantly."
