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TDI prices in China are expected to rise further in April

March 24/2011

(ICIS) -- Toluene di-isocyanate (TDI) prices in China are expected to rise further in April on supply concerns and speculative trading in the wake of the 11 March earthquake in Japan, industry sources said on Thursday.


Spot TDI prices were assessed USD150/t higher on 23 March at USD 2.650Ц2.750/t CFR China Main Port (CMP)/Hong Kong, from the previous week, ICIS data showed.


Many players in China said they were worried about TDI supply because major supplier Mitsui Chemical has shuttered its TDI unit in Kashima, Japan, following the earthquake. Mitsui Chemical has kept its 120 KTa Kashima-based TDI plant shut since a 9.0-magnitude earthquake hit northeast Japan on 11 March and has not set a restart date yet.


In the meantime, the producer would use its 120 KTa Ohmuta-based TDI unit, which was unaffected by the earthquake, to cover both its domestic and export needs, the source said.


Chinese producers withdrew their spot offers after the earthquake hit Japan, while traders based in mainland China and Hong Kong took positions to stock up on cargoes as they expected TDI prices to rise in the wake of the natural disaster, local players said.


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