Base Resources Expects Predict The Prices Of Ilmenite and Rutile will Rise In The Future
According to reports from Base Resources, the company produced 72,866 tons of ilmenite and 17,662 tons of rutile in the third quarter, as part of its production plan for 310,000 to 340,000 tons of ilmenite and 73,000 to 83,000 tons of rutile in 2021. Ilmenite and rutile prices rose in the third quarter. Due to strong demand for titanium raw materials, prices are expected to rise further in the coming quarters.
The company also said that due to the recovery in demand, limited supply and low inventory, the zircon market has tightened and prices have risen sharply. “The zircon price of the contract in the third quarter increased by about USD$1150/ton compared to the second quarter, and the agreed price of the contract in the fourth quarter increased by USD$600/ton. ”. The company reported that the average price of zircon for the fiscal year from July 2020 to June 2021 was USD$11,296/ton.
From July to September, the company produced 6,069 tons of zircon at the Kwale mine in Kenya. This is lower than the 7,057 tons produced from April to June, but higher than the 6,000 tons produced from July to September of the previous year. The production guidance of zirconium ore in 2021 is 24,000-28,000 tons. The total sales volume in the third quarter was 5,622 tons, 7,690 tons in the second quarter, and 7,336 tons in the first quarter.
