Middle East TDI steady for third consecutive week

25 July 2014 05:50 Source:ICIS News

SINGAPORE (ICIS)--Spot toluene di-isocyanate (TDI) prices in the Middle East held steady for the third straight week, with largely range-bound indications heard in the market, industry sources said late on Thursday.

Prices were assessed at $2,475- 2,500/tonne CFR (cost and freight) GCC (Gulf Cooperation Council)/East Med (East Mediterranean) in the week ending 24 July, according to ICIS data.

There was no change in the supply-demand dynamics, market sources said.

Offers were largely available at $2,500/tonne CFR GCC/East Med.

Customers at a major GCC market have accepted prices at $2,500/tonne CFR GCC, market sources said, but buyers were largely bidding at $2,470-2,480/tonne CFR GCC.

Discussions were limited, as players in the Middle East were not active, with some already out of the market for the upcoming Eid-ul-Fitr holiday starting 28 July.

Eid-ul-Fitr is a festival marking the end of the Muslim fasting month of Ramadan.

By Fahima Khail