Forecast of Global Major TDI Markets in August
2020-07-31    [Source:PUdaily]

August is approaching. We believe that industry participants are eager to know the trend in global TDI prices in August. Today, PUdaily will share its views for your reference.



Sources said that in July, offer for TDI in Europe stands at Euro 1,440-1,550/ton, up Euro 70/ton from June. The price is higher than in the previous six months, and the volume of transactions is also high. According to local industry participants, some regions even see a short supply. Sources said this is unusual as traditionally July is off season. PUdaily believes that this happens because the previous pent-up demand is unleashed.


In previous years, some slab polyols manufacturers in South Europe would close their plants during the summer holiday. But it is expected that this year the producers will spend a shorter holiday to resume normal production as soon as possible. Previously, BASF's 300kt/a TDI plant in Ludwigshafen, Germany, malfunctioned. Recently, its 160kt/a TDI plant in Geismar, Louisiana, suffered force majeure. Therefore, as the largest TDI supplier in the world BASF has a significant impact on the landscape of global TDI supply and price movement. PUdaily predicts that with the rapid recovery of local demand, TDI price in Europe will continue to rise should the supply remains tight.


Southeast Asia

In June, automotive manufacturers in Southeast Asia and Europe began to resume normal production, meanwhile upholstered furniture and bedding manufacturers also saw their production reach the pre-epidemic levels. The TDI market has since become strong. According to market sources, the offer for August in Southeast Asian countries such as Singapore and Indonesia has reached USD 1,550/ton, up USD 150-200/ton from the previous month. It is expected to further increase to USD 1,700/ton.



As domestic TDI manufacturers such as Wanhua Chemical and Xinjiang Juli increase their operating rates, domestic TDI market has witnessed serious oversupply. Therefore, most domestic manufacturers look to overseas markets. According to market sources, the volume of China’s TDI exports increased in July and was close to the normal level in the same period last year.


PUdaily holds that thanks to the support from markets in Europe and Southeast Asia, the domestic TDI market is to become stronger in August.

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