OAKLAND, CA, Feb. 28, 2019 (RISI) -The transcript of Tronox’ fourth quarter 2018 financial results conference call on Feb. 28, 2019, with CEO Jeff Quinn, is now available at Seeking Alpha.
EXCERPT:As you know, zircon is a very attractive product for us that deliver significant profitability and margin enhancement to our TiO2 business. We also benefit -- benefited in the quarter from favorable market conditions for high grade feedstock as a result of industry supply disruptions last year and declining production at other industry producers existing operations. As a vertically integrated producer in a rising high-grade feedstock price environment, we drive significant and differentiating benefits relative to our non-integrated pigment producers.
Controlling our own feedstock and the certainty of supply in that regard, it's also very important strategically over the long-term. With regard to pigment, our results for the quarter were in line with expectations that we shared with you in last quarter's call compared sequentially to the third quarter pigment selling prices were 1% lower on a local currency basis.
Sales volumes were 15% lower due to the normal seasonal decline and continued destocking by customers in certain sales channels in Europe and Asia. We anticipate a return to normal demand in inventory levels as this destocking runs its course by midyear. John will share his views with you on this topic and report on the success his team is having working with our pigment customers on our unique win-win margin stability initiatives that are intended to dampen margin volatility across the cycle.
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