Mideast TDI sellers stress need to recoup lost margins
Fahima Khail
08-Aug-2014
SINGAPORE
(ICIS)–Spot polymeric toluene di-isocyanate (TDI) prices in
the Gulf Cooperation Council (GCC) and East Mediterranean
(East Med) were stable this week but offers are expected to
rise in weeks ahead as producers try to recoup lost margins,
sources said late on Thursday.
Prices were assessed as unchanged at $2,475-2,500/tonne CFR (cost and freight) GCC/East Med in the week ending 7 August, according to ICIS data, mainly in the absence of firm discussions.
However, sellers stressed the need to raise prices for August shipments in order to recoup lost margins during the lull season in the Middle East.
Consequently, sellers added they were considering offers at above $2,500/tonne CFR GCC/East Med but were still not fully decided yet.
Demand is expected to improve as the Middle East buyers are expected to replenish stocks after the conclusion of the Muslim fasting month of Ramadan and Eid-ul-Fitr holidays.
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