Wanhua Chemical: Huntsman Polyurethane Price Increase, Bullish on Q3 Domestic Polyurethane Volume and Price Rising Together

English summary

Overseas polyurethane companies raise prices, and China's polyurethane export competitive advantage is significant. 1) On July 23, Huntsman plans to raise MDI prices in Europe, Africa, and the Middle East by EUR 250/ton, effective from August 1, mainly due to rising raw material and energy costs. 2) According to Wind, June polymeric MDI exports were 109,000 tons, +56% YoY (cumulative exports of 505,000 tons, +22% YoY); June TDI exports were 57,000 tons, +18% YoY (cumulative exports of 332,000 tons, +24% YoY). 3) As of July 23, polymeric MDI price was 17,300 yuan/ton (+850 yuan/ton from early July), pure MDI price was 19,800 yuan/ton (+1,400 yuan/ton from early July), MDI spread was 11,500 yuan/ton (expanded by 198 yuan/ton from early July); TDI price was 16,400 yuan/ton, spread was 12,200 yuan/ton (expanded by 439 yuan/ton from early July). ...