Europe May isocyanates roll over on ample supply

28 May 2008 23:59  [Source: ICIS news]

LONDON (ICIS news)--Assessed contract prices for Europe May isocyanates saw a rollover for both crude and pure methyl di-p-phenylene (MDI) due to a well-supplied market, sources said on Wednesday.

 

Prices remained at €1,850-1,960/tonne ($2,891-3,063/tonne) FD (free delivered) for crude MDI and at €1,895-2,040/tonne FD pure MDI, according to global market intelligence service ICIS pricing.

 

There was a slight increase of €25/tonne for toluene di-isocyanate (TDI) with the range rising to €2,800-3,000/tonne FD.

 

One producer targeted increases of €150/tonne but had been unsuccessful, achieving €50/tonne, although this was not confirmed elsewhere.

 

Sources felt ample supply in the market was not conducive to increases, despite demand for both grades of MDI being healthy. Producers hoped prices would become firmer in June due to recent price hikes in benzene.

 

The TDI increase was in light of the tight situation experienced by the majority of market participants throughout the month.

 

One producer reported an increase of €50/tonne but this could not be confirmed elsewhere with buyers reporting rollovers.

 

Suppliers hoped that higher toluene prices would allow for the possibility of price increases in June.

 

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($1 = €0.64)

By: Sarah Trinder
+44 20 8652 3214

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