14 February 2011 22:41 [Source: ICIS news]
HOUSTON (ICIS)--A substantial portion of the proposed 10 cent/lb ($220/tonne, €163/tonne) price hikes for ?xml:namespace>
A producer added that the TDI initiative was well supported by production costs, and suppliers would be pushing for full implementation. The price increases were announced on firm feedstock toluene costs, high crude oil prices and rising values for other polyurethane products and systems.
As negotiations proceeded, buyers said the March increase would probably settle somewhere under the full nomination. Still, a large part of the initiative, possible in the 5-8 cent/lb range, was expected to go through, buyers said.
The cold weather and disruptions in transportation provided additional support to the increase initiatives for TDI, according to the sources.
Demand for TDI from the automotive sector was expected to remain healthy, according to participants, who noted activity from the bedding and furniture segments were moderate.
Meanwhile, February TDI prices were assessed by ICIS stable since mid March 2010 at $1.48-1.65/lb in bulk and $1.57-1.76/lb in drums.
US TDI suppliers include Bayer MaterialScience, BASF and Dow Chemical.
($1 = €0.74)
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