22 March 2013 11:19 [Source: ICIS news]
SINGAPORE (ICIS)--Middle East toluene di-isocyanate (TDI) prices are being weighed down by lacklustre demand and good availability, market players said on Friday.
Spot prices were last assessed at $2,900-3,000/tonne ( €2,233-2,310/tonne) CFR (cost & freight) Gulf Cooperation Council (GCC) on 21 March 2013, according to ICIS data.
Looking ahead, sellers are keen to push for price increases amid low profitability. According to several suppliers, the recent reduction in toluene prices has been insufficient and costs still remain high.
Spot toluene prices were assessed at $1,220-1,250/tonne FOB (free on board) Korea at close of business on 21 March.
Buyers, however, felt that any increases are not justified in view of good availability and fragile demand from downstream sectors. Demand for end-use products such as bedding and furniture has been adversely affected by weakening consumer confidence amid an uncertain macroeconomic climate.
TDI is mainly used in the manufacture of polyurethane (PU) flexible foams used in upholstery, mattresses and automotive seats.
($1 = €0.77)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections