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Nigerias TDI market to remain soft for the rest of 2011

November 17/2011

(ICIS) -- Nigerias toluene di-isocyanate (TDI) market, the largest in Africa, will remain soft for the rest of 2011 because of the extended monsoon and ahead of the festive Christmas period, leading to a bearish outlook for TDI prices, industry sources said on Thursday.

The longer-than-expected rainy season in Nigeria has shifted the traditional peak period in the key downstream foam sector, which is usually ahead of Christmas, by more than three months to January or February 2012, regional traders and foamers said.

Heavy rainfall has led to poor road conditions, hindering the transportation of the hazardous TDI liquid. Nigerian foamers have had to seek new shelters for their foam products, which are typically kept in open warehouses.

As a result, foam factories are being operated at 50-60% capacity, which is 20-30% lower than during the seasonal peak, dampening the import interest for fresh TDI material, traders and foamers based in Nigeria said.

Perspectives of development of polymer markets, pricing issues and other important aspects will be discussed at The Polymers Summit-2011, which will be held in Moscow on November 30, 2011 at the Ritz Carlton Hotel. The Summit will be organized by MRC with the support of ICIS. The main idea of the Summit is to find a "the golden mean" between producers and converters. When producers receive exactly such margin of production, which helps them to invest in production expansion in order to substitute polymers imports, and the converters receive such price of feedstock that helps them to compete imported finished products. The Summit site gives an access to the live video of the Summit, speakers" presentations, as well as opportunities to ask questions or make appointments to any Summit partcipant.

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