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Spot prices of isocyanates in the Middle East and Africa have fallen this week

September 15/2011

(ICIS) -- The spot prices of isocyanates in the Middle East and Africa, which include the prices of polymeric methyl di-p-phenylene isocyanate (PMDI) and toluene di-isocyanate (TDI), have fallen this week in line with the weaker China and European markets, industry sources said on Thursday.
The prices are expected to decline further in the Middle East in the next few weeks, but those in the African market are expected to stabilise because of upcoming seasonal downstream demand, the sources added.


The spot prices of PMDI and TDI in the Gulf Cooperation Council (GCC) region are lower by USD 50-60/tonne (EUR 37-44/tonne) or 2.4-2.5% to an average of USD 1,990/tonne CFR (cost & freight) and USD 2,390/tonne respectively, after being stable for the past three weeks, according to ICIS data.


Poor market fundamentals in the leading Chinese and European markets have led producers from these regions to seek outlets in the Middle East and Africa to relieve their high inventory levels, regional players said.


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