08 July 2010 10:05 [Source: ICIS news]
SINGAPORE (ICIS news)--Asian toluene di-isocyanate (TDI) contracts settled at a lower price for the fourth month in a row in June, down $350/tonne (€276.5/tonne) May’s levels amid a supply glut and weak import demand, market players said on Thursday.
TDI majors BASF, Mitsui Chemicals and Bayer Material Science (BMS) had mostly settled their June contracts last week at $2,450-2,550/tonne CFR China Main Port (CMP)/?xml:namespace>
Meanwhile, some small transactions were made in the low-$2,400/tonne CFR CMP/Hong Kong and high-$2,500/tonne CFR CMP/Hong Kong levels, market sources said.
“Sales were barely two-third of what we had in May. This is no good for us,” said a key producer.
Spot prices for import material were discussed on Wednesday at $2,340-2,500/tonne CFR CMP/Hong Kong, down $50-60/tonne week on week, market sources said.
In the Chinese domestic markets, prices were discussed at yuan (CNY) 19,200-21,000/tonne ($2,832-3,097/tonne)
($1 = €0.79 / $1 = CNY6.78) For more on TDI visit ICIS chemical intelligence
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