Iran PMDI prices fall amid uncertainty over sanctions

27 April 2018 03:17 Source:ICIS News

SINGAPORE (ICIS)--Spot import prices of polymeric methyl di-p-phenylene isocyanate (PMDI) in Iran were softer in the week ended 26 April amid muted trade as uncertainty persisted over a coming deadline for the US to renew waivers on sanctions against Iran.

PMDI import prices in Iran were lowered this week on a notional basis in line with the other Middle East markets amid thin trade.

Some spot discussions were in the range of $2,900-2,950/tonne CFR (cost & freight) Iran, but transactions were scarce.

That compared with the previous week when discussions and offers were in the $2,900-3,000/tonne CFR Iran range.

Iran is facing a major deadline in mid-May, when the US is due to decide whether or not to continue to waive sanctions that were suspended as part of its nuclear deal with Western powers.

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By Izham Ahmad