Wanhua Chemical: TDI Comes Online!
On August 18, Wanhua Chemical announced that the newly constructed Phase II TDI unit (360,000 tons/year) at its Fujian Industrial Park has recently been completed and put into operation, producing qualified products.
As of the end of 2024, Wanhua Chemical has a TDI production capacity of 1.11 million tons per year. After the commissioning of the second 330,000 tons/year TDI project in Fujian, Wanhua's total TDI production capacity will reach 1.44 million tons per year. Currently, it is the world's largest supplier of both MDI and TDI.
The announcement also indicates that the integrated facilities of the company's subsidiary, BorsodChem Chemical Company in Hungary, including the MDI (400,000 tons/year) and TDI (250,000 tons/year) units, as well as related supporting facilities, began a phased shutdown for maintenance on July 23, 2025. As of now, the shutdown maintenance of the aforementioned TDI unit has been completed, and it has resumed normal production; the resumption of the MDI unit will be announced separately.
According to the annual maintenance plan, the company's Yantai Industrial Park TDI plant (300,000 tons/year) and related supporting facilities will undergo a phased shutdown for maintenance starting from August 19, 2025, with the maintenance expected to last approximately 40 days.
TDI Market Situation
Recently, there have been frequent accidents in the TDI market. On July 28th, Mitsui Chemicals' only TDI production site at the Omuta plant in Japan experienced a chlorine leak and was forced to shut down. The current production capacity is 50,000 tons per year, and no restart date has been announced yet.
On July 12, due to a sudden electrical fire at Covestro's Dormagen plant in Germany, its TDI unit with an annual capacity of 300,000 tons declared force majeure. Last week, Covestro issued a warning to customers that the tight supply situation of TDI would continue to worsen. According to the latest notification, Covestro will further reduce the supply to the Chinese market by 15% in August on top of the already significantly reduced supply. Prior to this, Covestro Shanghai raised the August opening price of TDI to 18,500 RMB/ton (packaged in barrels), with the full month's price starting at 19,100 RMB/ton, available in limited quantities.
After the accident at Covestro, Wanhua Chemical, Cangzhou Dahua, and BASF Shanghai have successively raised TDI prices, with the highest reaching 20,000 yuan per ton.
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