BASF has increased prices for its Lupranate MDI and Lupranate TDI products in ASEAN and South Asia markets, citing rising raw material, transportation, and energy costs as key drivers. The price hike takes effect immediately or as existing contract terms permit, signaling sustained upward cost pressure in the isocyanates supply chain.
BASF announced an immediate price increase for its Lupranate TDI (Toluene Diisocyanate) products across ASEAN and South Asia markets. The hike is driven by rising raw material, transportation, and energy costs, signaling upward price pressure on TDI in the region.
| Product | Region | Incoterm Basis | Price | Last Updated Month |
|---|---|---|---|---|
| Toluene Diisocyanate | China | FOB | USD 1,989.90/MT | August 2026 |
| Toluene Diisocyanate | India | CIF | USD 2,080.90/MT | August 2026 |
| Toluene Diisocyanate | USA | CIF | USD 2,145.90/MT | August 2026 |
| Toluene Diisocyanate | Germany | CIF | USD 2,103.90/MT | August 2026 |
| Toluene Diisocyanate | Canada | CIF | USD 2,155.90/MT | August 2026 |
| Toluene Diisocyanate | China | FOB | USD 1,853.32/MT | July 2026 |
| Toluene Diisocyanate | India | CIF | USD 1,960.32/MT | July 2026 |
| Toluene Diisocyanate | USA | CIF | USD 2,040.32/MT | July 2026 |
| Toluene Diisocyanate | Germany | CIF | USD 1,987.32/MT | July 2026 |
| Toluene Diisocyanate | Canada | CIF | USD 2,050.32/MT | July 2026 |
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Asia
In Asia, Toluene Diisocyanate averaged ~USD 1,781/MT in China in June, while India averaged ~USD 1,869/MT. Indian TDI prices corrected in April from the elevated March level, while the government’s temporary removal of basic customs duty through June improved the competitiveness of imported material and supported domestic availability. The measure was introduced amid wider global trade and shipping disruptions. In China, petrochemical markets remained exposed to higher energy, logistics and supply-chain costs linked to the Middle East disruption. Japan’s TDI operations also faced weak demand, with producers maintaining lower operating rates and restructuring their TDI footprint. These conditions limited demand-side support despite higher input costs.
Europe
In Germany, Toluene Diisocyanate averaged ~USD 1,902/MT in June. European TDI pricing remained supported initially by elevated upstream costs and supply concerns, while subsequent improvement in upstream conditions reduced purchasing urgency. Higher crude, natural-gas and logistics costs increased pressure through the toluene chain, while subdued polyurethane consumption constrained further price increases. Energy efficiency also remained relevant to European production economics, with a German TDI production site implementing a steam-compression project targeting lower energy consumption and emissions.
North America
In the USA, Toluene Diisocyanate averaged ~USD 1,936/MT in June. The regional market continued to face upward cost pressure from feedstocks and energy, while polyurethane demand remained comparatively restrained. Higher crude, natural-gas and logistics costs added pressure to production economics through the aromatic feedstock chain. However, cautious downstream purchasing limited the extent to which these costs could translate into sustained pricing momentum.
Analyst Insight
According to Procurement Resource, TDI prices are likely to remain sensitive to toluene and energy costs, while subdued polyurethane demand and improving supply availability could keep gains contained.
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Asia
In Asia, TDI prices moved higher during Q1 2026, led by tighter supply and stronger export interest from China. Chinese producers gained support from regional supply gaps as buyers in Asia looked for replacement cargoes amid overseas plant limitations and freight uncertainty. India remained exposed to imported TDI and polyurethane raw materials, so higher freight, longer routing, and Middle East-linked shipping risk added pressure for foam and furniture manufacturers. Demand from bedding, furniture, footwear, and automotive seating stayed steady, but buyers largely purchased for immediate consumption.
Europe
Europe recorded a firm TDI trend in Q1 2026 as supply-chain risk and feedstock pressure increased. The region faced higher replacement-cost pressure after the Iran conflict raised energy and freight uncertainty. A major European producer completed modernization work at its Dormagen TDI plant during the quarter, supporting long-term supply reliability, but near-term sentiment remained cautious. Higher freight and limited import visibility affected polyurethane raw material buyers, while downstream consumption from flexible foam, bedding, insulation, and automotive seating remained moderate.
North America
North America was comparatively more balanced, supported by stronger domestic chemical logistics and lower direct dependence on Middle East TDI flows. However, global trade uncertainty still affected buyer sentiment as chemical transactions from Asia and the Middle East to the Americas slowed in early March. US Gulf Coast chemical container exports rose 12.0% in March, and 20.0% surge capacity was available to manage disruptions, supporting regional export flexibility. Local demand from foam, coatings, adhesives, and automotive uses stayed steady but cautious.
Toluene diisocyanate, or TDI, is an organic molecule produced in vast quantities. It's a colourless to pale yellow liquid with a strong, pungent odour that's mostly used to make polyurethanes.
C9H6N2O2
Adhesives and Sealants, Flexible Foam, Paints & Coatings, Binders , Elastomers
Diisocyanatomethylbenzene, Diisocyanatotoluene, Methylphenylene Isocyanate
Overseas Polymers Pvt. Ltd., Huntsman Corporation., BorsodChem, The Dow Chemical Company, Mitsui Chemicals, Inc, Bayer, Lyondell Chemical Company
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The nitration of toluene with nitric acid to make dinitrotoluene occurs before the catalytic hydrogenation to produce toluene diamine (TDA) in the liquid-phase phosgenation process. TDA is then dissolved in an inert solvent and treated with phosgene to get a crude TDI solution. Before being distilled under vacuum, this crude TDI solution is fractionated to remove any unreacted phosgene, solvent, and hydrogen chloride.
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This report presents the cost structure of Toluene Diisocyanate (TDI) production from dinitrotoluene (DNT).
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