Middle East TDI prices stable amid mixed market

Fahima Khail

29-Aug-2014

TDI is mainly used in the manufacture of polyurethane (PU) flexible foams used in upholstery, mattresses and automotive seatsSINGAPORE (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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