2346 GMT - Signs that the market for minerals sands is stabilizing prompts UBS to upgrade Iluka to neutral from sell. "While uncertainty remains on the strength of the demand recovery, we are increasingly confident that downside commodity price risk is limited," analyst Dim Ariyasinghe says in a note. UBS lifts its forecasts for mineral sands prices by 6%-12% in 2024-2026. The bank highlights guidance from Western pigment producers of improved sales in 1Q, while China is in restocking mode. "All of this bodes well for Iluka's titanium dioxide feedstock segment," UBS says. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
March 18, 2024 19:46 ET (23:46 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
Comments