Madrid—Tighter feedstocks should offset concerns about weaker titanium demand, Shore Capital mining analyst Yuen Low said in a research note Thursday, citing Q1 reports from Australian mineral sands producer Base Resources and the UK’s Kenmare Resources. Both companies reported higher average prices during Q1 2020 while Base said Thursday that it expects tight conditions for titanium oxide feedstocks are likely to persist into Q2. Base said overall unit revenue from its Kenyan operations (producing ilmenite, rutile and zircon) increased 29% year on year to $476/mt sold, leading it to draw on its stocks to meet sales demand.
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