Mideast TDI prices stabilise after previous weeks’ falls

09 May 2014 08:38 Source:ICIS News

SINGAPORE (ICIS)--Spot toluene di-isocyanate (TDI) import prices in the Gulf Cooperation Council (GCC) and East Mediterranean (East Med) stabilised after previous weeks’ falls, amid largely range-bound discussions, market sources said late on Thursday.

According to ICIS data, prices remained stable at $2,420-2,450/tonne CFR (cost & freight) GCC/East Med during the week ended 8 May.

Market activity decreased as a number of players were absent during the trading week because of public holidays in several countries in Asia.

A Middle Eastern trader said it managed to sell material at $2,500/tonne CFR GCC for May shipment, but market prices were at $2,450-2,470/tonne CFR GCC because of lower offers from Europe-based sellers.

A Europe-based seller said it was offering material at $2,450-2,500/tonne CFR GCC/East Med for May shipment.

A GCC-based end-user said it received an offer for Europe-origin material at $2,480/tonne DEL (delivered) GCC (equivalent to $2,445/tonne CFR GCC) for early June delivery. The buyer said it would bid up to 80 tonnes at $2,450/tonne DEL GCC (equivalent to $2,415/tonne CFR GCC).

By Fahima Khail