Mineral sands producer Iluka Resources Limited (ASX:ILU) has struck a deal with its buyers to supply rutile and synthetic rutile for a higher price.
Iluka says the agreements are for sales in the first half of next year for customers in the pigment, titanium sponge and welding markets.
The price for rutile is expected increase by up to 85 per cent and synthetic rutile is expected increase by up to 90 per cent, relative to the forecast weighted average price for the prior half year.
The new prices will become effective from the beginning of next year for six months.
In the first half of the 2011 financial year Iluka Resources posted a net profit of $146 million.
