Weak demand leads to downward pressure on TDI in the Middle East

According to reports, due to weak dem abundant supply, spot prices of toluene diisocyanate (TDI) in the Middle East may further decline with Asian market prices, industry insiders said on Wednesday. According to ICIS data, the TDI valuation price on May 30 was 2600-2700 US dollars / ton (1976-2052 euro / ton) cfrgcc (Gulf Cooperation Council), 11% lower than March's 2950-3000 US dollars / ton CFR GCC.

as downstream dem is still fragile, worried that TDI prices may fall further, so buyers basically do not purchase new goods. Now strictly according to the dem to buy, there is no need to build inventory. In Asia, dem for TDI has been weak since the first quarter as global economic growth slows. At present, the seasonal off-season will last until September.

spot TDI price in Asia on May 29 was 2460-2600 USD / T CFR China main port (CMP) / Hong Kong, the peak in March was 2700-2750 USD / T CFR CMP / Hong Kong. However, some TDI producers in the Middle East are hoping to push prices up this month to restore profit margins. Some manufacturers have said that we do not expect prices to fall further as suppliers are already selling at break even point. If prices fall further, TDI will lose money if it continues to produce.

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