April 7 (Reuters) - Iluka Resources Ltd (ILU) :
- Its zircon reference price for the second quarter will be reduced by about 10 per cent to about us$950/tonne.
- Says the reference price is the benchmark against which a range of Iluka zircon products are priced.
- Adjusting zircon reference price in context of price reduction for April to June period of about us$100/tonne by a major competitor
- Iluka's approach to a competitor action may result in zircon sales for 2016 being below initial expectations
- Believes zircon demand is stable and that generic price reductions will not stimulate additional overall industry demand
- Iluka's approach to a competitor action may result in zircon sales for 2016 being below initial expectations
- Says accordingly, 2016 zircon production of about 350 thousand tonnes may be adjusted as the year evolves
News: ILU Iluka Resources says its zircon reference price for Q2 will be reduced by about 10 pct
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