Indications with regards to the state of the zircon market are currently very, very positive. UBS analysts state they are now hearing the zircon price is around US$750/t. In addition, Ticor (TOR) commented last week that prices of US$800/t can be achieved for 2006 delivery.
If these price levels are true, Iluka’s share price is bound to shoot higher, the analysts suggest. In general, UBS believes zircon prices should be supported in the medium term as there is limited supply due to come on stream in the next two years.
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