Europe isocyanates rise around €50/tonne in July
23 July 2008 23:59 [Source: ICIS news]
LONDON (ICIS news)--Europe July isocyanates all saw increases of around €50/tonne on the back of higher production costs, market sources said on Wednesday.
Crude methyl di-p-phenylene isocyanate (MDI) was increased by a minimum of €50/tonne, to €1,900-1,975/tonne ($3,016-3,135/tonne) FD (free delivered) w
The range for pure MDI was increased to €1,955-2,050/tonne FD western Europe after similar increases.
The price hikes were achieved despite balanced market fundamentals for both grades. The majority of producers had targeted increases of €50-150/tonne.
Toluene di-isocyanate (TDI) also saw an increase of €55/tonne, bringing the assessed ICIS range to €2,855-3,055/tonne FD western Europe.
TDI producers had targeted increases of €50-150/tonne due to record high toluene prices and growing production costs.
Although buyers saw balanced market fundamentals in TDI, there had been tight supply in previous months due to production issues experienced by some producers which had now eased due to the onset of the holiday season.
A major producer said it would seek further significant increases on TDI in September and October as they would be hard to implement in August due to the summer holidays.
Borsodchem would be carrying out scheduled maintenance at its 90,000 tonne/year TDI plant in
($1 = €0.63)
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By: Sarah Trinder
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