Resumen de Iluka expects 2016 loss as job cuts announced
Loss of over $200m forecast; Up to 90 job cuts expected; Rutile, zircon prices improve A number of impairments and adjustments are likely to push Iluka Resources Ltd's full-year 2016 profit after tax into a loss of $220-230m, the company said in a statement in January. "In Iluka's assessment, there was a material destocking of the producer supply chain over the course of 2016, with market information that some zircon suppliers had fully committed their volumes or were having difficulties in filling some customer orders," the company added. According to Iluka, a dramatic improvement in market conditions for pigments - the main end market for high grade titanium dioxide (TiO2) feedstocks - creating a favourable environment for feedstocks, particularly rutile and synthetic rutile.
