ILUKA RESOURCES (ASX:ILU) Mineral sands giant Iluka is seeing big price increases for zircon, with demand from Chinese tile manufacturers back to pre-pandemic levels. Zircon prices increased US$70/t in the second quarter and another US$125/t on July 1, after achieving a weighted average price of US$1321/t across the first half. First half rutile prices also 2% higher at US$1224/t. Zircon, rutile and synthetic rutile sales from Iluka’s mines in Australia and Sierra Leone were up 89% on the same period in 2020 across the first half to 242,300t, with revenue increasing 61.1% from $456.6m in H12020 to $735.6m in H12021.
BSE Price at posting:
28.5¢ Sentiment: Hold Disclosure: Held
