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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 Q3 2017
The European toluene di-isocyanate (TDI) market was characterised by a lack of product in the third quarter. There was little clarity from BASF regarding operating rates at its 300,000 tonne/year Ludwigshafen site. In the first-half of the year, the German producer said the plant would be back online with reduced rates until it is fully repaired in 2018. The plant was originally taken off line in November 2016 and brought back online in May 2017. In July, BorsodChem conducted planned maintenance at its 160,000 tonne/year Kazincbarcika site. After the turnaround had ended, the Hungarian producer said it was low on stocks and was on strict allocation. This contributed to European supply issues in September, especially as more planned maintenances are due.
There was no mention of atypical trends in the third quarter with regards to the consumption of European toluene di-isocyanate (TDI). September is considered to be the start of the strong demand season, and participants had been speaking about preparing for this change as early as July. August was said to be quiet due to the holiday season.
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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