Asian TDI Update
PUdaily, Shanghai-Many PU peers may have returned to office and begin to strive for business and polyurethane industry development. Allow me to wish all of you of a successful and fruitful 2017, and please also accept our little gift on the latest TDI market in overseas market.
During recent half month, TDI market in Southeast Asia, Middle East and Africa has already rebounds with demand picking up and enquiries increasing. The mainstream transaction price in the market rebounds to USD 3,400-3,500/ton CIF Southeast Asia, up USD 200-300/ton compared with early January.
India TDI market recovery is especially strong. India TDI market is tight in supply as demand rises with the approaching of the Indian New Year, besides, India GNFC 60 kt/year TDI facility delaying restart plan also make things more serious, it is reported that now TDI price have touched USD 3,700-3,800/ton CIF India. Besides, offers are rarely heard in local market now from Korea and Japan suppliers.
Japan and South Korea suppliers have also released the latest quotation for February before the Chinese Spring Festival, but now prices are limitedly reported: BASF TDI in Southeast Asia is heard at around USD 3,400-3,450/ton CIF and Japan MCNS (Mitsui chemicals and SKC joint venture) quotes at USD 3,400-3,500/ton CIF Southeast Asia, and now suspends offering. With overseas TDI market demand recovery, suppliers all report of relatively tight supply at present. At the same time, China TDI exporters also say that overseas enquiries gradually increase, but considering the high China TDI price and short supply, they will mainly focus on the domestic market.
According to latest news, three Korea manufacturers all have scheduled maintenance plans from February to April. BASF plans to carry out maintenance for about 10 days in March. Hanwha TDI facility will be maintenance for three weeks in late March and early April. OCI also has a seven-day overhaul from Feb. 5 to 12.
As China TDI market restarts after the Spring Festival and global TDI demand recovers, TDI market is likely to have a new wave of increase again.