Europe isocyanates roll over in June

25 June 2008 23:59  [Source: ICIS news]

LONDON (ICIS news)--Assessed contract prices for Europe June isocyanates saw a rollover for both crude and pure methyl di-p-phenylene (MDI) due to balanced markets, 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 chemical market intelligence service ICIS pricing.

Toluene di-isocyanate (TDI) also saw a rollover amid better supply and healthy demand, remaining at €2,800-3000/tonne FD NWE (northwest Europe).

All sources reported rollovers with the exception of one producer who reported an increase of €50/tonne. It said increases during the summer were unusual but added the price hike signified the market was still slightly tight.

Another producer said it had not increased prices in June as its priority was to keep values stable.

Producers said they were focusing on the implementation of their target increases in July. For MDI those increases ranged from €80-150/tonne on both grades. In the case of TDI, initial price hikes also fell between €80-150/tonne.

Producers emphasised the fact that they would be strict with their targets.

Despite balanced fundamentals across the board, it was thought increases on isocyanates were probable due to increased pressure on producers’ margins from higher feedstock and production costs.

($1 = €0.64)

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By: Sarah Trinder
+44 20 8652 3214

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