Mideast TDI continues to fall, further decline expected

Fahima Khail

19-Dec-2014

Mideast TDI continues to fallSINGAPORE (ICIS)–Spot toluene di-isocyanate (TDI) import prices in the Gulf Cooperation Council (GCC) and East Mediterranean (East Med) markets continued their downtrend, with some sources indicating that prices may fall further in the coming weeks.

On 18 December prices in the Middle East markets declined by $10-70/tonne to $2,250-2,290/tonne CFR (cost & freight) GCC/East Med, according to ICIS data.

Sources said that discussions were largely taking place at $2,250-2,290/tonne CFR GCC/East Med for European as well as Asian origin material.

Industry player added the fall was attributed to lower feedstock costs, subdued demand and falls in the crude oil markets.

While sellers lowered their offers to attract buying interest, buyers were not seriously bidding for material in anticipation of further downtrends, sources said.

Buyers in some cases were expressing ideas at as low as $2,200/tonne CFR GCC. Those ideas, however, were not taken seriously by sellers.

In the Iranian market, workable selling ideas were quoted at $2,350-2,400/tonne CFR Iran, sources said.

Some sources said that TDI acceptability was not more than $2,400/tonne CFR Iran.

The local producers price was said to be at $2,000/tonne. However, it could not be established whether the price was for material ex-factory or delivered.

According to ICIS data import prices fell by $25-50/tonne $2,350-2,400/tonne CFR Iran in the week ending 18 December.

Looking forward sources said that market sentiment was very bearish and they expected further TDI price falls.

READ MORE

Global News + ICIS Chemical Business (ICB)

See the full picture, with unlimited access to ICIS chemicals news across all markets and regions, plus ICB, the industry-leading magazine for the chemicals industry.

Contact us

Now, more than ever, dynamic insights are key to navigating complex, volatile commodity markets. Access to expert insights on the latest industry developments and tracking market changes are vital in making sustainable business decisions.

Want to learn about how we can work together to bring you actionable insight and support your business decisions?

Need Help?

Need Help?