24 March 2011 08:08 [Source: ICIS news]
SINGAPORE (ICIS)--Toluene di-isocyanate (TDI) spot prices have fallen by $50–70/tonne (€36–50/tonne) day on day in the Hong Kong/south China spot market because weaker-than-expected demand from local foamers, industry sources said on Thursday.
Discussions were at $2,600–2,680/tonne CFR (cost & freight) China Main Port (CMP)/Hong Kong on 24 March, as traders reduced their offer prices to draw fellow traders and foamers forward.
“Offers are at $2,650–2,680/tonne CFR [Hong Kong] now,” said a Hong Kong-based trader.
“Prices had gone up too quickly in the past week, which did not reflect the real demand. So, a price correction is possible,” said a Northeast Asian maker.
“Overall, April prices should be higher than March settlements because of the decrease in Japanese products,” he added.
“Prices are volatile these days. Who knows if prices will rebound tomorrow,” said a trader based in south China.
($1 = €0.71)
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