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Updated to Q3 2017
Following production issues in April and May, European methyl di-p-phenylene isocyanate (MDI) supply shortened and in the third quarter of the year planned maintenance meant this lack of product continued.
Hungarian producer BorsodChem had a scheduled shutdown at its 260,000 tonne/year Kazincbarcika plant that began in July and was expected to end in August. In the middle of August, however, the supplier declared a force majeure that lasted until the end of the month. It stated that it would have strict allocation of its MDI supply afterwards as it looked to rebuild stock.
In September, tightness persisted in the market as further planned maintenance lessened domestic supply.
Demand was hard to discern in quarter three for the European crude MDI market due to supply constraints in the market. Some in August said that demand had not quietened down in the summer period as customers needed volumes. This would mark a step away from usual trends in the summer, when typically order book volumes decrease. In September it was said that consumption had strengthened, as generally occurs at the time of year.
Updated to Q2 2017
The toluene di-isocyanate (TDI) market experienced availability issues during the second quarter of 2017 that partially originated from BASF taking its Ludwigshafen, Germany plant off line in November 2016. Although the company announced in February 2017 that it would bring the 300,000 tonne/year plant online with reduced rates in a few weeks’ time, it did not do so until May.
Nonetheless, product was still scarce in May with a few sources saying that they did not expect much near-term change in the market as full repairs at the German supplier’s facility would only finish in 2018.
In June participants said that Hungary-based producer BorsodChem’s upcoming turnaround was also affecting the market.
The supplier planned the maintenance of its 160,000 tonne/year site in Kazincbarcika, Hungary to start in mid-July 2017 with the scheduled outage expected to end in mid-August.
Prices consequently climbed in April by €100/tonne on the low end and €30/tonne on the high end of the range in response to the anticipated tightness in supply. While, in May producers raised the value of the product by €70/tonne as they said higher values globally necessitated raised TDI prices.
The ICIS European isocyanates report covers contract pricing, which is normally fixed for the month.
Any quarterly contract information such as for crude Methyl di-p-phenylene isocyanate (MDI) or any spot business or price indications are included in the body of the text.
The report contains official monthly price ranges for Toluene di-isocyanate (TDI) and MDI, covering both the crude and pure MDI grades.
Pricing is assessed based on feedback from a cross-section of the market, including buyers, producers and resellers.
The report is an important pricing tool for a number of players, who use a formula based pricing mechanism linked to ICIS.
The report also includes graphs, when appropriate, to track isocyanate pricing against feedstock movements.
It covers a wide variety of downstream sectors including the automotive, construction, footwear, bedding and furniture sectors.
The report provides invaluable pricing and production information, which is useful for both buyers and sellers alike and helps them to make better informed business decisions.
ICIS collects pricing data on a wide range of chemical, energy and fertilizer products, including Isocyanates. Our extensive experience in price reporting means we can offer you access to historical data dating back more than 20 years for certain commodities.
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