Rising coking coal costs are pushing up production expenses for Indian steel mills, with steel prices expected to increase in coming weeks. Post-monsoon demand revival and planned maintenance shutdowns at major mills are tightening spot supply, further supporting price gains. Rising imports from China may cap the extent of price increases.
Coking coal prices firmed over the first quarter, driven by supply-side disruptions including mine accidents in China and reduced Russian output linked to diesel shortages. Tightening seaborne supply is pushing input costs higher for steel producers reliant on this key raw material.
Toluenediamine (TDA) is an aromatic diamine synthesised through nitration of toluene and subsequent hydrogenation of dinitrotoluene intermediates, anchoring its economics to crude oil and toluene feedstock availability. It is consumed as a precursor for polyurethane foams and elastomers, epoxy hardeners, organic and hair dyes, and as a rubber vulcanisation agent, placing it across construction, automotive, coatings, and specialty chemical chains.
Through H1 2026, TDA traded in a cautious, range bound environment shaped by subdued downstream sentiment and evolving feedstock dynamics. In Asia, where Chinese producers command a dominant share following earlier capacity additions, sentiment stayed soft as domestic polyurethane demand failed to gain momentum; elevated Chinese output kept regional supply comfortable while export appetite added competitive pressure across South and Southeast Asia. Indian participants found conditions more tempered as agrochemical and pharmaceutical linked consumption softened. In Europe, sentiment improved modestly in Q2 as building activity showed tentative revival, though structural adjustments at major integrated sites maintained supply discipline. North American buyers stayed cautious amid trade policy considerations, and softening toluene costs limited producers' ability to sustain firm aspirations. Trade flows across the Asia Pacific corridor reflected measured activity, with procurement teams replenishing on a need basis rather than building forward positions.
Analyst Insight
According to Procurement Resource, TDA prices should hold in a balanced to soft range through H2 2026, with recovering construction activity and cautious automotive restocking only partly offsetting comfortable supply. The pace at which downstream polyurethane demand firms across major consuming regions will determine whether TDA can stage a more meaningful recovery.
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Asian
The Asian region witnessed a volatile year for TDA pricing in 2024. The first quarter showed promising upward momentum, particularly in India, driven by strong demand from agrochemicals and pharmaceuticals sectors. However, this positive trend was short-lived as oversupply issues emerged by Q2, pushing prices downward. South Korean TDA prices were particularly affected by maintenance at GS Caltex and fluctuating feedstock costs.
In China, reduced demand from end-use industries such as polyurethane manufacturing created further downward pressure. The second half of 2024 saw continued price erosion across the region, exacerbated by logistical challenges including port congestion and container repositioning issues. By Q4, the market had stabilized at lower levels with sufficient stockpiles meeting the subdued demand.
Europe
European TDA prices in 2024 demonstrated consistent decline throughout the year. Beginning with a downward trend in Q1 due to reduced fertilizer sector demand and farmer protests across the region, the negative price environment persisted into Q2 with an oversupply situation. The construction sector, particularly housing, struggled throughout the year, weakening demand for TDA in paints and coatings applications.
Rising interest rates and inflation further constrained purchasing power. By Q3, the European construction sector had fallen into a deep slump, accelerating TDA price drops. The final quarter of 2024 continued this bearish trend, with high inventories and balanced but underwhelming demand from industries such as polyurethane and other aromatics. Geopolitical uncertainties and fluctuating crude oil prices exerted additional pressure on prices.
North America
In North America, Toluenediamine (TDA) prices followed a downward trajectory throughout 2024. The first quarter started with moderate pricing, but as the year progressed, prices steadily declined due to weakening demand from the polyurethane sector. This trend was heavily influenced by the bearish performance of its feedstock toluene, which experienced significant price drops throughout the year.
Supply chain disruptions, including the Longshoremen's Association strike in Q4, further complicated market dynamics. Despite some growth in the construction industry, the broader economic slowdown dampened TDA demand, particularly in the latter half of 2024. Manufacturers responded by reducing production rates, but this was insufficient to offset the oversupply situation that persisted through year-end.
Toluenediamine is collectively used to refer to all the ortho and para isomeric forms of toulenediamine with the same common formula. But, depending on the position of the -amino groups, the properties of the isomers change. 2,4-diaminotoluene (one of the isomeric forms) is produced by hydrogenating 2,4-dinitrotoluene using a nickel catalyst. Its reaction with the chemical compound benzene diazonium chloride gives the cationic azo dye Basic Orange 1.
C7H10N2
Organic Dyes, Hair Dyes, Rubber Industry, Chemical Substrate
Diaminotoluene, Methylphenylene diamine, TDA, Toluenediamine isomers, Tolylenediamine
BASF SE, Cangzhou Dahua Group Co., Ltd., Covestro AG, Fujian Southeast Electrochemical Co., Ltd.
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
Customization ScopeThe report can be customized as per the requirements of the customer
Post-Sale Analyst Support360-degree analyst support after report delivery
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
In process involves hydrogenating dinitrotoluene in the presence of an acid catalyst in a continuous well-stirred tank reactor. Then the unreacted substrates are separated, giving crude toluenediamine refined via distillation.
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