China TDI Dropped 9%, Further Declines Are Seen

Chemical News: China TDI Dropped 9%, Further Declines Are Seen

https://www.chemnet.com Jun 21,2010
PUWORLD(2010-6-18)——TDI spot prices had dropped 9% this month and was poised for further declines, due to ebbing interests from end-user foam market, an insider said yesterday. According to ICIS pricing, TDI spots value was heard at the range of $ 2550-2600/ton CFR Mainland China on June 16, down $ 150-180/ton compared with last week.

“It’s become a buyer’s market.” One producer at Northeast Asia said. From June to middle August, it was the traditional slack season for foam products, and most TDI buyers adopting wait-and-see stance had anticipated further decline in prices. Some producers indicated that they were planning to cut down operations to avoid overstock. Dealers at Hong Kong were also active in clearing up inventory, on Thursday; prices were even lower to $ 2500/ton CFR Hong Kong.

“Considering the bottom level, TDI spots value should stabilize at $ 2400/ton, but who knows?” a dealer from East China area said. TDI spot prices had seen constant decline from $ 3100-3180/ton in the middle of March, a result of waning seasonal demand from downstream foam industry and the restrictions on chemicals transportation during Shanghai Expo.

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