Wanhua Chemical and other giants raise prices in unison, boosting the polyurethane industry chain

Commodity
โดย 证券时报·Read original
Summary · why it matters

Since late July, the global polyurethane raw materials market has seen a wave of concentrated price hikes. Domestic and international chemical giants such as Wanhua Chemical, Huntsman, and BASF have successively issued price adjustment notices for MDI and TDI products. Downstream TPU leader Miracll Chemicals also raised product prices simultaneously. Wanhua Chemical announced that effective July 29, it would raise MDI and TDI prices in Southeast Asia by 200 US dollars per tonne. Huntsman raised all MDI product prices in Europe, Africa, and the Middle East by 250 euros per tonne, with the new prices taking effect on August 1, 2026. At the same time, it raised MDI and polyurethane systems prices in India and the Indian subcontinent by 300 US dollars per tonne. Shanghai Huntsman's August list price for polymeric MDI rose by 1,500 yuan per tonne to 19,500 yuan per tonne. BASF Shanghai's August list price for TDI rose by 1,000 yuan per tonne to 19,000 yuan per tonne. The price adjustments are mainly due to significantly higher raw material and logistics costs caused by geopolitical tensions in the Middle East. Currently, global MDI production capacity is highly concentrated. Wanhua Chemical leads with 3.8 million tonnes per year, followed by BASF with 2.07 million tonnes per year, Covestro with 1.77 million tonnes per year, Huntsman with 1.37 million tonnes per year, and Dow with 1.11 million tonnes per year. On the supply side, concentrated maintenance shutdowns of multiple plants are tightening supply. On the demand side, China's MDI exports in the first half of 2026 reached 505,000 tonnes, up 22.5 percent year-on-year, with June exports alone hitting 109,000 tonnes, a sharp increase of 56.4 percent year-on-year. Institutions are bullish on the industry's upward cycle. Wanhua Chemical expects first-half net profit of 9.8 billion to 10.4 billion yuan, up over 60 percent year-on-year. TDI producer Cangzhou Dahua expects first-half net profit of 101 million yuan, up about 330.75 percent year-on-year.

Impact on stocks 6

Materials▲ · 2 stocks
BASF SE
BAS
▲ PositivePricingrelevance

BASF raised TDI prices in Shanghai by 1,000 yuan/tonne to 19,000 yuan/tonne, and is a major global producer.

Huntsman Corporation
HUN
▲ PositivePricingrelevance

Huntsman raised MDI prices in Europe, Africa, Middle East, India, and subcontinent, and Shanghai Huntsman's August MDI list price rose.

Critical Materials & Supply Chain▲ · 1 stocks
Others▲ · 3 stocks
Miracll Chemicals Co Ltd
300848
▲ PositivePricingrelevance

Miracll Chemicals, a downstream TPU leader, raised product prices simultaneously, benefiting from the industry-wide price hikes.

Theme Impact 1

Related news

▲2

Cabot Expands Battery Materials Platform With $50M DOE Grant

Cabot Corporation is expanding domestic production of advanced conductive additives at its Franklin, Louisiana, and Pampa facilities through a modified $50 million grant from the U.S. Department of Energy's Office of Critical Minerals and Energy Innovation. The funding, combined with approximately $75 million of Cabot investment, is intended to meet rising demand for energy storage systems, AI infrastructure, data centers, grid modernization and broader electrification. Under the revised agreement, Cabot will redirect funding from its originally planned Michigan project toward a two-site brownfield expansion, a move expected to accelerate development, improve production efficiency and strengthen supply capabilities. The investment will support Franklin's production of LITX advanced battery-grade conductive carbons, while the Pampa facility will establish Cabot's first commercial-scale production of carbon nanostructures and part of its ENERMAX product family, with both projects expected to become operational by the end of 2028. Cabot's shares have gained 17% year to date compared with the industry's 13.7% rise in the same period.
CBT ▲
Electrification & Mobility ▲Critical Materials & Supply Chain ▲Energy Transition & Power Demand ▲
Zacks Investment Research·20hRead more →
5

SCC jumps 3% after ROC resumes operations, KSS maintains 315 baht target

Shares of Siam Cement Public Company Limited, or SCC, rose 2.70% to 266.00 baht after the company announced the restart of production at its ROC plant, which has an olefins production capacity of about 1.35 million tonnes per year, from September 17, 2026, after it secured sufficient feedstock from sources outside the Middle East, such as Malaysia, Africa and other sources, for continuous production. SCC is targeting a combined utilisation rate with its MOC plant, which has a capacity of about 2.05 million tonnes per year, of more than 80%, close to pre-war levels. Krungsri Securities Public Company Limited, or KSS, said the restart of ROC within the late third quarter of 2026 was in line with the company's target, and maintained its "buy" recommendation on SCC with a 2027 target price of 315 baht, naming it one of its top picks, and expects SCC's normal profit in 2026-2028 to grow by an average of 110% per year.
SCC.BK ▲
Critical Materials & Supply Chain
Kaohoon·1dRead more →
9

SCGC announces Rayong Olefins plant restart after temporary halt due to Middle East situation

SCG Chemicals, or SCGC, announced that Rayong Olefins Company Limited (ROC), part of the SCGC business group, has successfully restarted its olefins plant after announcing a temporary shutdown in March 2026 due to the Middle East situation. The company conducted a comprehensive assessment of operational readiness as well as safety and environmental standards. Sakchai Patiparnprechavut, Chief Executive Officer and President of SCG Chemicals Public Company Limited, stated that the key factors considered in restarting the ROC plant this time included continuity in feedstock procurement, or feedstock security, and the readiness of the plant, along with the commitment to continuously deliver products to customers, partners, and all stakeholders. Sakchai also emphasized that the Middle East situation remains volatile and uncertain, so SCGC continues to closely monitor the situation and rapidly adjust its strategies to respond on an ongoing basis, focusing on feedstock procurement and on managing feedstock and production as efficiently as possible in order to increase opportunities and build competitiveness, while preparing for the changes in the increasingly challenging global petrochemical industry.
Critical Materials & Supply Chain
Share2Trade·1dRead more →
© 2026 MarketDXNews