Question-and-Answer Session
Operator
(Operator Instructions) Your first question comes from Frank Mitsch - BB&T Capital Markets.
Frank Mitsch - BB&T Capital Markets
Tom, you are talking about TiO2 prices, you mentioned that prices were up 2%, sequentially from the fourth quarter, a combination of foreign exchange and real price increases. The fact that you mentioned foreign exchange, first, leads me to believe that the real price increases were up less than a percent, is that correct?
And can you talk about the real price increase or your real selling price absent foreign exchange as we stand here late April versus the average of the first quarter.
Thomas W. Adams
Yes, Frank. The foreign exchange impact was approximately half of the 2% increase in the TiO2 pricing. To give you an idea on the realized pricing, we don’t give specifics, per se, on dollar for ton type numbers. But I can, as I referenced in the call, because of the amount of imports that are flowing into Europe, that is limiting our progress and ability to implement further increases there, but we continue to evaluate it and push on a daily basis.
Asia is a very strong; there is no question the demand there continues to grow. And as I said, North America is stable, which does provide an environment for further potential increases going forward.
Frank Mitsch - BB&T Capital Markets
I know that you mentioned the October round of increases, and there have been in a couple since then, can you comment as to the pricing on April 30 that you’re realizing versus the average of the first quarter pricing?
Thomas W. Adams
Yes, Frank, we don’t provide guidance to that point other than providing the quarter-over-quarter increase that we talked about which is the 2% and then the FX adjustment bringing it down, from that prospective.
Frank Mitsch - BB&T Capital Markets
But the commentary from Robert regarding higher freight, energy, processed chemicals costs, what level of price increases do you need to realize to offset those costs?
Thomas W. Adams
Yes, Frank, it’s really not even a question of what do you need to input to offset the current. You have to look back over the last 18 to 24 months in this industry. And if you look at the margin deterioration that the TiO2 industry has seen as a whole, we have a lot of catch up to do.
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