Iran PMDI import prices slump $50-170/tonne on ample supply

Fahima Khail

25-Jul-2014

Iran PMDI import prices fallSINGAPORE (ICIS)–Spot di-p-phenylene isocyanate (PMDI) import prices in Iran fell  by $50-170/tonne this week, marking their biggest fall in one year, because of ample supply, market sources said late on Thursday.

On 24 July, PMDI prices were assessed at $1,950-2,100/tonne CFR (cost and freight) Iran,  according to ICIS.

The Iranian market may also have been taking the cue from the neighbouring Gulf Cooperation Council (GCC) markets, where prices fell for the fourth consecutive week.

PMDI prices in the GCC fell by $60-75/tonne week on week to $1,950-2,000/tonne CFR GCC on 24 July.

Consequently, selling ideas to the Iran market declined to $2,100-2,150/tonne CFR Iran during the week. An offer was also indicated at $1,950/tonne CFR Iran, but no deals were concluded, market sources said.

PMDI discussions in the Iranian market are expected to remain subdued in the coming week, as the entire Middle East region is preparing for the Eid-ul-Fitr holiday to mark the end of the Muslim fasting month of Ramadan on 28 July.

The holiday could take more than a week in some Middle Eastern countries.

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?