GLG News by Titanium Dioxide Experts

Ian DavenportPresidentDavenport Associates

Where to next for Acrylates?

September 28, 2010

Analysis of:Asia acrylates hit new 15-yr high amid global supply shortage | www.icis.com

Acrylates have been in global short supply throughout 2010. Asian prices are hitting new highs. Fortunately contract supply in US and Europe is returning to normal as producers return to normal operations and seasonal demand for the coatings market falls.

Paul HodgesChairmanInternational eChem

Chemical company margins benefit from feedstock shortages

September 27, 2010

2010 has seen major changes taking place in the relative price and availability of the main petrochemical ‘building block’ products. These changes are being driven by the wider changes taking place in the economy and society, as we move to a ‘New Normal’ world characterised by less debt, lower consumption, more recycling and slower growth.

David McCoyDirectorTZ Minerals International Pty Ltd

Independent TiO2 Price Forecasts Solid Profit and Demand Rebound in 2010/11.

September 23, 2010

Titanium dioxide pigment price rises are going through a phase of unparalleled support, on the back of low global inventories and tight supply. Chinese producers are the only suppliers to have excess capacity on hand, while in the rest of the world facilities are running at maximum rates. The supply outlook for the remainder of 2010 and the period through to 2012 is one of continuing deficiency compared to the need to restock the global supply chain and meet new demand. 

Dave HillmanIndependent ConsultantDave Hillman

Clearwater to Purchase Cellu-Tissue

September 21, 2010

Analysis of:Clearwater Paper To Acquire Cellu-Tissue For $502 Milion | www.paperage.com

For $502 million Clearwater has extended its manufacturing presence to the eastern and southern parts of the US. The financing was arranged by BoA-Merrill Lynch.Clearwater, with mills in AK, Las Vegas and ID plus a converting plant in the upper midwest, recently announced plans to install a tissue machine and converting equipment in Shelby, NC. Cellu-Tissue is known for it's specialty tissue products. Expected beneficial synergies by 2012 could amount to $15-20 million.

Dave HillmanIndependent ConsultantDave Hillman

Fluff Pulp: the US's Jewel In The Crown

September 17, 2010

Fluff Pulp is making a major contribution to the US's export situation and is growing by about 6%/year. World demand is 5.4 million mt/year and the US has as much as 95% of this amount. Prices have remained steady even while other papergrades pulps have decreased. Current list for Fluff Pulp is $1040/admt. After inland and ocean freight the mill net for export tonnage is over $900/mt. Assuming half is exported, the numbers are: 2.6 million mt x $900 = $2.34 billion

Dave HillmanIndependent ConsultantDave Hillman

Hardwood Pulp Prices Projected To Drop In 4Q

September 17, 2010

Three northern hardwood mills have begun selling into the spot market which has driven down prices. They are Domtar's Woodland, ME mill, NewPage's Rumford, ME mill and Thurso in Canada. This may be short lived.The current list for NBHK is $905/admt but pessimists believe by year end it may be $825/admt. Optimists think it will slide only to $850/admt,New UFS, CFS, Tissue and Towelling machines will be starting up over the next six months and should take up any surplus.

Dave HillmanIndependent ConsultantDave Hillman

Paper Industry Capital Spending Up 8% in North America

September 8, 2010

+8% is good news but the paper industry will spend 23% less than in 2008.Paper and board production hit a 20 year low in 2009 but rebounded and rose 9% in the first half of 2010. Worst hit in 2009 was graphic papers.No new pulp mills or paper machines are planned. Money will be spent on maintenance, renewable energy, bio-mass projects, upgrades and conversions.Four of the biggest spenders are involved in containerboard and packaging: IP, TIP, PCA and Cascades.

Dave HillmanIndependent ConsultantDave Hillman

China Is Now Top Energy Consumer - But Not Proud Of It!

September 8, 2010

The Gov't will close 259 straw pulp and smaller paper mills before year's end These are older, smaller, less efficient mills and heavy polluters. Reducing domestic production of pulp means greater purchases of market pulp - eucalyptus and acacia mostly from Indonesia, Chile, Brazil and Uruguay. Only one greenfield market pulp mill is currently under construction. 2011 should see a tight pulp market and rising prices.

Dave HillmanIndependent ConsultantDave Hillman

US Printing/Writing Papers Shipments UP Slightly in July

August 25, 2010

Analysis of:U.S.Printing-Writing Papers Shipments Up Slightly in July | www.paperage.com

Contrary to what many IQ projections indicated, total printing & writing shipments increased 1% in July instead of declining 2-3%. , Paper inventory levels increased 3% from June 2010 possibly indicating optimism that 3 and 4Q business will improve.Uncoated free sheet (UFS) ytd exceeded 2009 ytd.Coated free sheet (CFS) increased year-over-year for the 9th consecutive monthCoated mechanical (CM) showed double-digit growth vs. year ago.Uncoated mechanical (UM) shipments up seventh month in a row

Dave HillmanIndependent ConsultantDave Hillman

Newsprint Prices Continue Upward Climb (but so do costs)

August 24, 2010

Analysis of:Newsprint Prices Continue Climb, But Margins Still Tight | www.paperage.com

Newsprint prices rose in August for the 12th consecutive month - now $640/mt in the East and $590/mt in the West. To close this price gap Norpac, White Birch & Blue Heron all announced a $40/mt price increase for September.Unfortunately most costs have also increased so that even with the 45% price increase, mills like Abitibi indicated they lost $64/mt in 2Q.Producers are looking at export markets where demand is growing. They are also diversifying into lightweight Kraft pkg grades.

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