Middle East TDI prices stable amid mixed market
Fahima Khail
29-Aug-2014
SINGAPORE
(ICIS)–Spot toluene di-isocyanate (TDI) prices in the in the
Gulf Cooperation Council (GCC) and East Mediterranean (East
Med) markets were unchanged during the week amid a mixed
market, market sources said on late Thursday.
On 28 August, TDI prices were assessed at $2,500-2,550/tonne
CFR (cost and freight) GCC/East Med, according to ICIS
data.
While sellers largely offered material at $2,550/tonne CFR
GCC/East Med, some lower offers had emerged in the market for
south Korea and India-origin material at $2,450-2,520/tonne
CFR GCC/East Med, but no deals were heard, sources
said. Some buying ideas were indicated at $2,500/tonne CFR
GCC/East Med, sources said.
The offer for India-origin material was for loose drummed
cargoes, which is not assessed in the published price range.
ICIS methodology assesses drummed material in the region. In
addition, appetite for India-origin material was not clear,
sources said, despite a lower buying idea heard at
$2,450/tonne CFR East Med.
Some sources said they had also heard offers from
Europe-based producers at $2,500/tonne CFR East Med.
An end-user said at it bought European-origin material at
$2,525/tonne DELIVERED (DEL) (equivalent to 2,490/tonne CFR)
GCC for early September delivery. The buyer added it received
an offer for Japanese-origin material at $2,490/tonne CFR
GCC.
No discussions were heard in the Iranian import market. A
market source said that the market was well-supplied by the
domestic producer. Material delivered was estimated to be at
$3,000/tonne DEL (including import duties and taxes).
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