Mideast rigid polyols prices stabilise after previous week’s fall

16 May 2014 08:21  [Source: ICIS news]

SINGAPORE (ICIS)--Spot rigid foam polyether polyols prices in the Middle East, including the Gulf Cooperation Council (GCC) region stabilised, after falling by $50/tonne in the previous week, sources said late on Thursday. 

According to ICIS data, prices remained at $1,900-1,950/tonne CFR (cost & freight) GCC/Middle East during the week ended 15 May.

Offers during the trading week varied across the market depending on the sellers’ position.

Although there were higher indications available in the market, no bids were received by the sellers. No buying ideas were available from customers in the Middle East and this led to a subdued market.

A Chinese producer was offering rigid polyols of two different grades at $1,900-2,000/tonne CFR GCC/Middle East for May shipment but the seller had not received any firm bids.

A South Korean producer said it was not involved in firm discussions, but added that workable selling ideas were at $1,990/tonne CFR GCC for May shipment.

A Chinese producer said it was offering material at $2,000/tonne CFR GCC for May shipment, but had not reached an agreement with its customers. The seller said it received a bid at $1,950/tonne CFR GCC, but the indication could not be confirmed with the buy-side.

A Japan-based seller said it was offering material at $2,000/tonne CFR GCC for May shipment, but had not received any bids.

By: Fahima Khail
+65 6780 4327

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