Mideast spot PMDI prices stable in the absence of firm discussions

20 February 2014 13:57 Source:ICIS News

SINGAPORE (ICIS)--Spot polymeric methyl di-p-phenylene isocyanate (PMDI) prices in the in the Gulf Corporation Council (GCC) and East Mediterranean (East Med) regions have been largely stable, in the absence of firm discussions or confirmed deals, market sources said on Thursday.

Offers by European and Asian suppliers were at $2,150-2,200/tonne CFR (cost and freight) GCC/East Med.

A European producer was offering material at $2,150-2,170/tonne CFR GCC.

An end-user said suppliers tried to push their offers to $2,200/tonne CFR GCC, but it would not buy at that level. The buyer said the price range of $2,130-2,170/tonne CFR GCC was a more workable range and it expressed buying ideas $2,100-2,150/tonne CFR GCC for March shipment.

A trader said it sold cargoes at $2,175/tonne CFR GCC for end-February/early March shipment. However the information could not be verified with buyers.

By Fahima Khail