SINGAPORE (ICIS)–Spot import prices of toluene di-isocyanate (TDI) in the Gulf Cooperation Council (GCC) declined for the sixth straight week, as producers lowered offers to entice buyers ahead of the year-end holidays.
In the week ended 14 December, the majority of TDI offers to GCC buyers were clustered at about $4,200/tonne CFR (cost & freight) GCC, while some deals and discussions were at around $4,150/tonne CFR GCC.
Other offers from northeast Asian producers were at around $4,250/tonne CFR GCC, down by $100/tonne from the previous week.
Buying indications were heard at $4,100-4,150/tonne CFR GCC, with some also noted below $4,100/tonne CFR GCC, although the latter levels could not be verified and were not deemed to be reflective of current market conditions.
The workable range was also deemed to be at $4,150-4,200/tonne CFR GCC and CFR East Mediterranean.
In related Asian markets, spot import prices in China/Hong Kong (HK) were maintained this week amid range-bound deals and discussions.
Picture: Toluene diisocyanate (TDI) is used to make polyurethanes, which go into foams for furniture such as sofa and bed. (Source: View Pictures/REX/Shutterstock)