Dow announced the price increase of MDI next week! The May price increase letter is fully effective, and the prices of BASF, Chemours and other products have increased!
Dow announces MDI price increase
Starting from May 10, 2021 or the time allowed by the contract, Dow Chemical will increase the prices of the following MDI products of all grades and packaging types in North America on behalf of itself and its applicable consolidated subsidiaries (hereinafter referred to as "Dow"). as follows:
ISONATE raised US$0.15/lb, and PAPI raised US$0.15/lb.
In May, BASF, Chemours, etc.
The price increase letter is officially effective!
Chemours will increase the price of titanium dioxide by US$200/ton from May 1st
On March 31, 2021, Chemours issued a notice of price adjustment for titanium dioxide, stating that in view of the increase in upstream raw materials and transportation costs, after the company’s research and decision, starting from May 1, 2021, the company will purchase all specifications in China. The price of Ti-Pure™ titanium dioxide is increased by US$200/ton.
BASF raises prices in May
Recently, BASF announced that its kaolin business is increasing the price of its entire product portfolio by 10%. The price change is effective for all materials permitted on or after May 1, 2021 or in the contract. Previously, titanium dioxide giant Chemours had notified in early April that from May 1st, titanium dioxide will increase by US$200/ton (approximately RMB 1,313/ton).
SABIC resin products increase in price
According to the SABIC announcement, due to the imbalance between the supply and demand of raw materials, SABIC's resin products will be all adjusted upwards from May 17th! Among them, PC resin has been raised up to 16245.3 yuan/ton.
In addition, various chemical products such as pigments, resins, and TGIC may continue to increase in May.
Titanium dioxide: Titanium dioxide products have been raised by RMB 4,200/ton cumulatively during the year, and orders are currently queued up to June. Titanium dioxide leader China Nuclear Titanium Dioxide said that due to the current reduction in the output of large foreign titanium dioxide manufacturers, the company's overall sales of titanium dioxide in foreign markets have increased. This has led to a decrease in the supply of titanium dioxide in the domestic market, and the shortage has caused prices to rise. In addition, the price of titanium dioxide may rise further. At present, the titanium dioxide market has not ended its upward trend.
Pigment products: currently lined up, year-to-date phthalocyanine blue pigments have increased by 8,000 yuan/ton, phthalocyanine green pigments have been increased by 6,000 yuan/ton, iron oxide pigments have been increased by 200-2,000 yuan/ton, and aluminum pigments have increased by 3,200 yuan/ton. Yuan/ton, the orders for the first half of the year are currently full, and most companies have a single discussion. It is reported that there are still arrangements for an increase in May.
TGIC: TGIC is currently quoting 58,000 yuan/ton, and some companies’ quotations have exceeded 60,000 yuan/ton, setting a new historical high. The price rose by 7.14% during the year and was 25% higher than last year’s low value. At present, many companies have indicated that they are out of stock. They will ship on the contract date and accept orders in May. The later price will be negotiated based on the order volume of downstream customers. There are still bullish expectations after May.
Epoxy resin: Liquid epoxy resin is quoted at RMB 40,000/ton-RMB 41,000/ton. Since 2021, the cumulative increase of liquid resin in East China has increased by 86%. The price of solid epoxy resin was 36,000 yuan/ton, a record high.
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