U.S. Isocyanate and Polyether Polyols Are Increasing

June 13, 2022

Some buyers indicated that due to rising raw material prices, they intend to increase the US isocyanate and polyether polyol prices in July. Manufacturers are likely to pass at least part of their price increases to users.
According to industry sources, "The price of polyether polyols and diphenylmethane diisocyanate (MDI) is likely to increase, and there is doubt about the increase in the price of toluene diisocyanate (TDI) because the price in the United States is still higher than the rest of the world. area."
Natural gas Crude oils and aromatics are the main raw materials for the production of polyurethane foams (TDI, MDI and polyether polyols) and prices have steadily increased since entering 2009.
Propylene, a raw material for the production of polyether polyols, was tentatively scheduled to be 8.5 cents/lb (187 US dollars/ton or 133 euro/ton) higher than the price in May.
If the contract price rises to 8.5 cents/lb, then the chemical grade propylene will increase to 38.5 cents/lb.
Benzene and toluene are crude oil-based naphtha-derived aromatic chemicals. They are the raw materials for the production of TDI and MDI. The prices of these two products are also rising. It is reported that prices have risen considerably since the beginning of the year.
On June 9th, light sweet crude oil for delivery in July at the New York Mercantile Exchange was at US$70.01 per barrel, up US$1.92, up 51% from US$46.34 per barrel on January 2.
Many manufacturers have determined that isocyanates will increase prices from July 1.
Dow Chemical announced at the end of May that it would increase its prices for MDI, TDI and copolymer polyether polyol by 8 cents/lb.
The buyer said that BASF also announced its intention to raise the price, but the producer team of the price did not respond immediately to the request.
Huntsman announced that it intends to raise prices for MDI, propylene oxide and propylene glycol by 5 cents/lb.
The vice president of Huntsman's Polyurethanes Americas said: "In order to deal with the recent material price increase, this price increase is very necessary."
Traders said that Asian demand has contributed to the rise in benzene prices in the United States.
Due to high energy prices and Asia’s need to import styrene, the US’s spot benzene in June rose by more than 16% to 2.79-2.84 US dollars/gallon (Texas city duty-exit price in Houston).
People in the chemical industry agree that the operating rate of the entire industry is low, and downstream demand is still not strong.
Major US isocyanate manufacturers include Dow Chemical, BASF, Bayer, and Huntsman.

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