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Toluene prices, markets & analysis

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Market Overview

Updated to Q1 2021

Asia

TDI supply was tight in the first quarter following unforeseen events such as the polar storms in the US Gulf Coast, which cut production at some major US facilities. An unexpected shutdown at a Middle East facility led to decreased availability for exports to Asia as well, lending upward support to the spot market.

Demand for TDI was mixed, with cargo uptake slowing down ahead of the Lunar New Year holiday and picking up after the festivities. With supply shortening abruptly amid unexpected disruptions, buyers actively purchased material amid concerns of availability in the near term. However, with the related polyols market also registering steep price gains, some buyers struggled with increasing production cost pressure.

Europe

TDI supply was mixed in Q1 after the region’s largest producer, BASF, closed its Ludwigshafen plant in Germany in mid-March for maintenance after a three-month closure in late 2020. Outages at US plants following winter storms in mid-February and logistics issues further tightened supply.

TDI demand was relatively healthy in Q1 as the buying appetite for mattresses and furniture continued to beat expectations, spurred by a boom in home improvements linked to the coronavirus pandemic. In some cases, however, TDI demand was capped by limitations on polyether polyols supply, which constrained foam production. Automotive demand for flexible foams fluctuated.

US

TDI supplies tightened during Q1 as the mid-February winter storm along the US Gulf Coast impacted all US TDI production sites as well as creating shortages in availability of a number of feedstock and intermediate chemicals used in TDI production. Several TDI force majeures emerged following the winter storm as supplies tightened. Ongoing chlorine shortages have continued to impact average TDI operating rates.

TDI demand remained strong throughout Q1 amid an ongoing expansion in US manufacturing activity. Consumers have been allocating more of their disposable income to home improvements and consumer durable goods relative to travel and entertainment services as many consumers are spending more of their time at home due to ongoing coronavirus-related movement restrictions.

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    • Key trading prices: Spot/contract, import/export and domestic toluene on a daily and weekly basis

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  • Price alerts and market updates: Shifts in prices, breaking news, market developments and supply demand trends
  • Plant data: Production and capacity, plant maintenance and shutdowns
  • Feedstock/downstream information: Prices and market commentary on upstream commodities such as benzene and phenol and downstream markets
  • Weekly market sentiment: Near-term price direction and appetite of buyers and sellers in active trading regions
  • Supply and demand: Analysis of domestic and international supply and demand

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ICIS publishes daily and weekly pricing reports for toluene to help you keep track of trading prices, understand price drivers/fluctuations and set a benchmark for contract price settlements. Information covered in our price reports includes:

Asia

  • FOB South Korea
  • CFR NE Asia, SE Asia, India, China
  • Ex-tank E China, Ex-tank India

Europe

  • FOB NWE
  • ROB R’Dam
  • CIF Med

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Each ICIS toluene pricing subscription comes with analytics tools that take away the hassle of developing your own analysis. Quickly access data such as:

    • Price Drivers Analytics: An interactive map identifying net price differences between regions, factoring in freight costs and duties, to enrich the global picture of cross-regional competition and import and export opportunities.

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  • Price Optimisation Analytics: An interactive map identifying net price differences between regions, factoring in freight and duties costs, to enrich the global picture of cross-regional competition and import and export opportunities.
  • Live Disruptions Tracker – Supply: Real-time view of domestic and global supply, plant outages and start-ups for the next 12 months, plus the impact of these changes.
  • Live Disruptions Tracker – Impact: A tool that visualises supply disruptions using live data, as validated by ICIS production news with an impact view connecting downstream shutdowns to show consumption capacity loss in real time.
  • Margin Analytics – Get actionable variable cost margins by feedstock/process type and location, with analyst insight
  • Supply & Demand Outlooks: Quarterly supply and demand outlooks for toluene.

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Stay on top of toluene markets across all regions with ICIS news.toulene-img-4

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Gain quick access to data on import and export volumes, plant capacities, production, product trade flows, companies and route. With historical data from 1978 and forecasts available up to 2040, this powerful data and analytics service from ICIS helps senior management, strategists, business planners, analysts and risk managers to:

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Methodology

Our Pricing Methodology: 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 worldwide. Confirmed deals, verified by both buyers and sellers, provide the foundation of our price assessments.

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