10 December 2008 23:36 [Source: ICIS news]
HOUSTON (ICIS news)--US bulk toluene di-isocyanate (TDI) prices fell by $176/tonne (€136/tonne) due to poor demand, lower feedstock prices and the drive to move expensive inventory by destocking, market sources said on Wednesday.
“No one wants to be carrying expensive inventory, and demand is so far off that there is no telling how much worse it will get before things get better,” a buyer said.
The TDI price range has been reassessed, with the value now pegged at $4,321-4,475/tonne according to data from global chemical market intelligence service ICIS pricing.
“Everybody is trying to maximise cash flow so they are using their inventory,” a producer said. “We’ll probably see people start restocking in the first quarter. Then we’ll see what the true demand is because now people are burning through their inventory.”
Major US TDI producers include Dow Chemical, LyondellBasell, BASF and Bayer.
($1 = €0.77)
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