January 27, 2023 News , BASF announced a price increase of MDI basic products in ASEAN and South Asia, with an increase of US$300/ton, effective immediately.
India:Before this price increase notice, recently, another MDI manufacturer has raised its offer for aggregated MDI in the Indian market to US$1,850/ton, which is an increase of US$150/ton compared with US$1,700/ton before the Chinese New Year. According to this, the manufacturer said that due to the recent exchange rate fluctuations, the offer may still be increased.
Southeast Asia:From late December to before the Spring Festival in January, the price of China’s MDI market fluctuated and rebounded. However, the price in the Southeast Asian market not only did not rebound synchronously, but fell weakly to the range of 1600-1650 US dollars / ton. Therefore, BASF’s increase of MDI prices in Southeast Asia can be considered as a supplementary price increase for the market in the region.
Let’s review again, Domestic MDI market before the festival
Spring Festival holiday, superimposed domestic in February Some MDI production devices have maintenance plans, and MDI manufacturers reduced their overall market supply in January. In addition, due to the good trading situation in the first ten days of January, the spot spot on the market before the festival is also decreasing, and the negotiation is mainly focused on pre-sale orders after the festival. In the week before the festival, with the deepening of the holiday mode, most of the industry players have withdrawn from the market, and the trading atmosphere has further weakened. As of January 20, the market price of polymeric MDI was 14,800-15,200 yuan/ton. As of January 28th today, as most of the industry has not yet started to open the market, downstream inquiries are limited, and clear offers and negotiations are rare in the market, sporadic firmness and stability, waiting for the latest price news from suppliers next Monday.
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