Titanium sees strong leap in prices, demand: Tasnee CEO

Mutlaq Al-Morished, CEO of the National Industrialization Co. (Tasnee)

Titanium prices rose after the coronavirus pandemic from $6 to $12 per kilogram, as demand soared significantly, Mutlaq Al-Morished, CEO of the National Industrialization Co. (Tasnee), told Argaam. 

On the sidelines of the Future Minerals Forum, Al-Morished said titanium production will likely increase by more than 6%, noting that Tasnee dominates over 10% of the world's titanium production, helped by its factory in Yanbu.

The recent feedstock price hike will have a significant impact on all petrochemical companies in the first quarter.  

The decline in polypropylene prices is expected to continue in the first quarter due to the high production in China, but other products increased slightly, Al-Morished said. He added that this scenario will change completely after the feedstock price increase.