SINGAPORE (ICIS)--Spot polymeric methyl di-p-phenylene isocyanate (PMDI) prices in the Iranian market have been firmer this week because of increased market activity, sources said on Thursday.
Discussions in the import market, which were hampered by trade sanctions on the country until recently, were heard to be increasing since the six-month relaxation of sanctions on Iran by the US and EU in January this year.
Buyers were heard to be stockpiling material ahead of the new year holiday season in late March. Consequently, higher offers were heard by PMDI suppliers.
A trader in the Middle East, who regularly sells to Iran said the discussion range was at $2,250-2,300/tonne CFR Iran. A separate trader was offering cargoes at $2,250/tonne CFR Iran. Export offers from Asia were heard to be at $2,110/tonne FOB Korea. Buying ideas were heard in the range of $2,250-2,280/tonne CFR Iran, but they could not be confirmed by buyers.