Market Overview
TDI
Southeast Asia (SEA or SE Asia)：From early July to mid-July, the TDI market in Southeast Asia remained weak and stable. The market prices stayed around USD 2,500 - 2,600/tonne CIF on July 15, which narrowed the range compared with the prices on July 01 (USD 2,450 - 2,650/tonne CIF). The traditional off-season was continuing, and demand from all downstream industry in Southeast Asia was in a weak state.
China：On July 15, China TDI market dropped down with market prices of CNY 17,000-17,400/tonne (equal to USD 2,225 - 2,279/tonne). TDI facility of BASF and Covestro in Shanghai had stopped for maintenance, which made supply of TDI tighter. But down downstream demand continued to be weak.
Asia TDI Production
Table 1 Asia TDI Plants Operation Dynamics
|
Supplier |
Location |
Capacity (kT/a) |
Bi-Weekly Average Operation Load |
|
Covestro (China) Co., Ltd. |
Shanghai, China |
310 |
0%. Shut down for maintenance from June 25. |
|
Shanghai BASF Polyurethane Co., Ltd. |
Shanghai, China |
160 |
0%. Shut down for maintenance for 1 month. |
|
Wanhua Group |
Yantai, Shandong |
300 |
100%. |
|
Wanhua Fujian (Formerly known as SEEC) |
Fuzhou, Fujian |
100 |
50%. Single line operation. |
|
Cangzhou Dahua Group Co., Ltd. |
Hebei, China |
150 |
100%. Normal operation. |
|
Gansu Yinguang Chemical Industry Group Co., Ltd. |
Gansu, China |
120 |
0%. Under maintenance. |
|
Yantai Juli Isocyanate Co., Ltd. |
Shandong, China |
80 |
0%. the TDI unit in Yantai was shut down for maintenance on May 16, and it has not started yet. |
|
Xinjiang Juli Co., Ltd |
Xinjiang, China |
150 |
100%. |
|
Lianshi Chemical |
Huludao, Liaoning |
50 |
0%. Under maintenance. |
|
Total capacity in China |
1,420 |
||
|
Avg. Operation Loads in China |
46% (in 1nd half of July) |
||
|
Mitsui Chemicals & SKC Polyurethanes Inc. |
Omuta, Japan |
120 |
100%. |
|
BASF Urethane Co., Ltd. |
Yeosu, South Korea |
160 |
50%. Temporary stop due to facility problem on July 4th |
|
Hanwha Chemical (KPX Fine Chemical) |
Yeosu, South Korea |
150 |
33%. Single line operation. |
|
OCI Company Ltd. |
Kunsan, South Korea |
50 |
100%. |
|
Gujarat Narmada Valley Fertilizer Company Limited |
Bharuch, India |
17 |
100%. Normal operation. |
|
Gujarat Narmada Valley Fertilizer Company Limited |
Dahej, India |
50 |
0%. Shut down for maintenance. |
|
KARUN |
BIK Port (BANDAR IMAM KHOMEIN) |
40 |
0%. Device in shutdown due to carbon monoxide supply problem. |
|
Sadara |
Al Sharqiya, Saudi Arabia |
200 |
100%. |
|
Total Capacity in Asia and Middle East |
2,207 |
||
|
Avg. Operation Loads in Asia |
53% (in 1nd half of July) |
||
Polymeric MDI (PMDI)
In Southeast Asia, the PMDI market remained weak and stable in the reporting period. The mainstream offers in SE Asia were around USD 2,300 – 2,350/tonne CIF with cargoes from Japan, South Korea and China suppliers on July 15 with no change compared with the prices on July 01. Supply from Mainstream manufacturers is stable, but the market was sluggish and demand from downstream industries was quite weak, especially from home appliances and construction industry.
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