03 December 2008 23:59 [Source: ICIS news]
LONDON (ICIS news)--The European toluene di-isocyanate (TDI) market saw prices fall by another €100/tonne ($127/tonne) – bringing a total drop of €170/tonne over the fourth quarter – due to poor demand, lower feedstock prices and the drive for year-end destocking, market sources said on Wednesday.
“Demand is shocking right now, and producers are looking to shift as many volumes they can in the run-up to the end of the year,” a buyer said.
The TDI price range has been reassessed, with the value now pegged at €2,685-2,885/tonne FD (free delivered) NWE (northwest ?xml:namespace>
Another buyer said: “TDI prices have been under pressure for some time now, and it’s heartening to see it starting to follow feedstock trends. Unfortunately, though, demand is not going to grow as a result, and this won’t change.”
($1 = €0.79)
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