While there is already a shortage of rutile (95%+ titanium...

While there is already a shortage of rutile (95%+ titanium content) supply worldwide and a lack of new projects which will guarantee higher prices over the coming years, IMO the zircon prices will also go much higher than 1550$/t.

Both rutile and zircon are in short supply, the days of high grade mineral sands projects are over and known high grade/ high tonnage deposits are already developed, in production and being depleted as we speak (most mineral sands deposits have short life times of around 10 years), with no new significant new discoveries on the horizon.

Unlike lithium, graphite, rare earths and other industrial minerals, which are plentiful in nature, Mineral Sands are much scarcier, the market is under-appreciating this fact, but the sentiment will certainly change once we see much higher prices due to more shortages to happen over the coming years.