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Hexamethylene Diisocyanate (HDI) Prices: In the second quarter of 2023 | ChemAnalyst

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For the Quarter Ending June 2023

North America

The Hexamethylene Diisocyanate prices slumped in the North American region during the Quarter 2 of 2023. The offtakes remained sluggish from the downstream Polyurethane industries due to weak activities in the construction sector during Q2 of 2023. Simultaneously, the demand was low, but due to the rising recession and layoff practices, producers and traders increased restocking practices amid increased labor costs. Meanwhile, increased logistics costs provided cost support during the mid-quarter. However, due to the depressed demand in the international market, the traders started destocking practices towards the end of the quarter, which raised the inventory levels, and suppliers decreased their quotations noticeably in the region. At the same time, the feedstock Butadiene prices rose initially due to increased price quotations from producers amid an escalation in costs support from upstream. But due to the reduction in upstream Naphtha demand from the mid-quarter, the feedstock Butadiene prices fell and reduced the production costs of HDI. Furthermore, the normalization in freight costs towards the end of the quarter reduced the costs support on the product.

Asia

The Hexamethylene Diisocyanate price trend showcased bearish movement during quarter 2 of 2023. The demand was low from regional and international importers due to the sluggish activities in the Polyurethane sector and firm availability of supplies. Simultaneously, the consumption rates from Polyurethane elastomer and coating producers remained inadequate throughout the quarter due to the inactive construction sector. Meanwhile, the strengthening of the US Dollar and the weakening of the other currencies impacted the product prices in the international markets. Towards the end of the quarter, HDI prices decreased slightly amid intensified buying activities before the Dragon boat festival. The feedstock Butadiene prices fell appreciably throughout Q2 due to the weak upstream Naphtha costs and sluggish demand from the downstream buyers. It reduced the upstream cost support on feedstock Butadiene and production costs of HDI. Simultaneously, the decrease in feedstock Adiponitrile prices throughout Q2 further reduced the cost support on HDI. Furthermore, the decline in input costs due to reduced consumption amid temperature rise reduced the variable cost of production during the quarter.

Get Real Time Prices: Hexamethylene Diisocyanate Prices

Europe

In the European region, the price trend of Hexamethylene Diisocyanate remained the same as the previous quarter, and prices were consistently by producers and suppliers as the demand was low from downstream Polyurethane sealants and coatings producers due to sluggish activities in the construction and electronics industries. At the end of the quarter, the decline in prices intensified amid firm availability of inventories and reduced buying and manufacturing activities in the region. The hike in bank interest rates by the European Central Bank and the Bank of England to curb rising inflation made the buyers conscious while making purchases, and they avoided any unnecessary trading activities. Meanwhile, the upstream Ammonia prices declined from the mid-quarter due to low cost and sluggish demand from fertilizer producers. Simultaneously, the reduction in Natural Gas prices during Q2 decreased the variable costs and reduced the production costs of HDI. Furthermore, towards the end of the quarter, feedstock Butadiene prices declined amid reduced cost support from upstream Ethylene and sluggish demand from downstream buyers.



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