Polyurethane feedstocks in September 2012: Upstream price driving TOI and MDI sharply upward / MDI in a strong rollover / Improved demand / Lingering maintenance turnarounds / Steep hikes in store for Q4

摘要

Soaring notations for PU starting materials in Europe in August gained further momentum in September. The first harbingers of this trend drove the upper end of the MDI range forward by about EUR 20/t. The lower end of the TDI range rose by around EUR 50/t. Polyols rises averaged EUR 65/t. Producers of PU feedstocks absorbed the August increases for benzene, toluene, propylene and ethylene fairly easily, but then as the same triple-digit rises popped up in September, they began to fear for their margins. Buyers rubbed their eyes in disbelief when one player announced hikes of 6%. About half of the increase was passed on. Due to the slow summer demand, the long Q3 maintenance at European PU plants did not affect supply much. In September, however, demand swelled noticeably without a corresponding rise in output.