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Updated to Q4 2016
The fourth quarter began in tumultuous circumstances for methyl di-p-phenylene isocyanate (MDI) as Covestro declared force majeure across all its European production. This resulted in significant price increases in the November contract as supplies became limited.
Arbitrage opportunities to Asia diverted some stock out of Europe and only intensified the tightness.
Also in November, Huntsman announced sales control due to faults on one of its MDI lines, worsening the supply problem. The traditionally quiet December period lessened the impact of these supply disruptions, but with both producers scheduled to return on line in mid-December, supply levels are expected to improve by the end of the year.
Despite the production issues, pure MDI has remained stable as the market is restricted and well catered for.
Updated to Q4 2016
The fourth quarter of 2016 saw fortunes quickly change in the TDI market. The long standing TDI shortage appeared to be coming to an end as a customer confirmed delivery of material from BASF’s Luidwigshafen plant at the end of October. The year-long delay to start-up of this plant had limited TDI supply in Europe for most of 2016 and driven up prices. Players expected the market to balance as production ramped up.
These expectations were soon wrecked as Covestro announced force majeure across its European TDI production and BASF suffered an explosion at its Ludwigshafen site. Despite BASF announcing that TDI production was unaffected, sentiment was fuelled by the news in November. Hikes soon followed.
Despite avoiding damage in the explosion, the Ludwigshafen site has since been idled due to a gas leak. With no date set for a return, players expect supplies to remain limited in December.
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.