One. The situation of China’s export of TDI to Southeast Asia in the third quarter of 2018
Table 1. The third quarter of 2017 – the third quarter of 2018. Comparison of China’s exports of TDI to Southeast Asian countries
In the third quarter of 2018, the main exporters of TDI in China were Covestro and Fujian Fu Chemical Trade and Cangzhou Dahua, and Gansu Yinguang also began to export a small amount.
In the third quarter of 2018, China exported nearly 25,000 tons of TDI, a year-on-year decrease of 15%. The chain fell slightly but was basically flat. The volume of exports to Southeast Asia increased, from nearly 7,200 tons to 7,600 tons year-on-year, accounting for more than 30% of the total exports. Indonesia, Vietnam and the Philippines are the main TDI markets in Southeast Asia, all of which increased year-on-year. Although the TDI market in Thailand is relatively large, it has shrunk compared to the same period last year. In addition, it can be seen from this year’s export data that Cambodia’s polyurethane industry has developed relatively rapidly.
With the gradual expansion of TDI production capacity in China, more and more Chinese manufacturers are looking for exports. Southeast Asia, as a region that is closely related to my country and has great development potential, will gradually become an important export market for China’s TDI one of the regions.
Two. Japan’s export of TDI to Southeast Asia in the third quarter of 2018
Table 2. Comparison of Japanese exports of TDI to Southeast Asian countries from the third quarter of 2017 to the third quarter of 2018
In the third quarter of 2018, the volume of Japanese exports of TDI declined as a whole, which was lower than that of the same period in 2017 18%, about 16,000 tons. The volume of exports to Southeast Asia has also decreased, from 10,000 tons in the same period last year to less than 9,300 tons, but the overall proportion has increased. TDI accounted for 57% of total exports.
At present, Southeast Asia is still the main export market of Japan’s TDI, so sales in Southeast Asia will Directly affect the export shipments of TDI in Japan. For example, in the second quarter, the overall export volume was low due to the sharp decline in sales in major exporting countries such as Indonesia. Japan’s TDI sales may be in crisis.
3. South Korea’s TDI exports to Southeast Asia in the third quarter of 2018
Table 3. The third quarter of 2017 – the third quarter of 2018 South Korea’s exports of TDI to Southeast Asian countries
In the third quarter of 2018, South Korea’s total exports of TDI decreased by 18% year-on-year and 11% month-on-month, However, it is still the largest among China, Japan and South Korea, reaching 66,000 tons. The Southeast Asian market accounted for less than 16,000 tons, an increase of 9% year-on-year, and it is in the South Korean TDI export market accounted for 24%. Although June-September is the traditional off-season for the polyurethane industry in Southeast Asia, global prices of TDI are generally on the decline. According to South Korea According to the consistent market strategy, the shipment is more active, and the negotiated price is lower, so the sales volume has increased year-on-year.
4. Comparison of TDI exports from China, Japan and South Korea to Southeast Asia in the third quarter of 2018
Figure 1. The third quarter of 2017 – the third quarter of 2018 China, Japan and South Korea exported TDI to Southeast Asia Country share
In the third quarter of 2018, China, Japan and South Korea exported a total of about 32,000 tons of TDI to Southeast Asia. It was basically the same as the same period last year. South Korea still accounts for the largest market share in Southeast Asia, with a year-on-year growth of 3 percentage points, Japan’s share has shrunk, and China’s share has risen slightly.
Although the high price in 2017 continued at the beginning of 2018, in the second quarter, the price of TDI began to decline in Southeast Asia , Buyers buy up but not down, and the wait-and-see mood is serious, so the consumption in the second quarter has dropped significantly compared with the first quarter. After entering the third quarter, the inventory of downstream manufacturers was low, and a new round of stocking began, so the purchase volume increased month-on-month.
In the fourth quarter of 2018, it was heard that in some countries in Southeast Asia, due to the decline in people’s purchasing power and domestic demand, orders for some foam factories fell by nearly 20%. Coupled with the coming of the new year and many holidays, the demand for TDI is expected to drop.
