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We offer the following regional Isocyanates coverage to keep you informed of factors and developments affecting prices in the Europe Isocyanates marketplace.
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Updated to Q2 2018
The Europe crude methyl di-p-phenylene isocyanate (MDI) market was lengthy in quarter two as a result of low demand. Consequently, prices dropped by triple digits in certain months with levels returning to around those agreed before production issues in 2017. Pure MDI prices moved in the opposite direction with low availability influencing discussions. Production issues at US sellers Huntsman and Dow Chemicals in Europe restricted the availability of pure MDI in what is a structurally tight market.
Low consumption levels were experienced in the Europe crude MDI market in quarters one and two. This was partially attributed to consumers switching to competing products after high pricing and shortages in 2017. As a result, even though demand typically picks up in summer, order book volumes were low in quarter two. Downwards price trends in most of quarters one and two led some sources to anticipate a return to consumption levels eventually.
Updated to Q2 2018
There were low supply levels at the start of quarter two for Europe toluene di-isocyanate (TDI) as a result of German seller BASF shutting down its Ludwigshafen plant. The facility was taken off line in January with the company stating at the time that the site would resume production in quarter two. Although the unit did not start up by July, availability did lengthen by the end of quarter two due to seasonally low demand.
Tight conditions in the Europe TDI market began to ease by the end of quarter two with low demand a key factor. Prices dropped for the first time since the start of 2016 in June 2018 with triple-digit decreases widely agreed. The drivers behind this softer trend are not completely clear. Part of it is explained by aforementioned quiet demand. Such lower consumption can be attributed to consumers buying competing downstream products following a firmer trend for TDI in 2017.
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.
Our time series of pricing data enables you to build and model trends, to get a view of where markets might be heading. The data service includes charting functionality, allowing you to chart and download multiple data series for manipulation in your own internal models. You can also export data to Excel via the ICIS dashboard service.
ICIS price assessments are based on information gathered from a wide cross-section of the market, comprising consumers, producers, traders and distributors from more than 250 reporters world-wide. Confirmed deals, verified by both buyer and seller, provide the foundation of our price assessments.
Our in-depth market knowledge drives our specialist focus, as we recognise the importance of individual market dynamics and not a one-size-fits-all approach.
Over 25 years of reporting on key chemicals markets, including Isocyanates, has brought global recognition of our methodology as being unbiased, authoritative and rigorous in preserving our editorial integrity. Our global network of reporters in Houston, London, Singapore, Shanghai, Guangzhou, Mumbai, Perth and Moscow ensures unrivalled coverage of established and emerging markets.