MOSCOW (MRC) -- With immediate effect, or as contract terms allow, BASF will increase prices for its Lupranate MDI (Methylene Diphenyl Diisocyanate) and Lupranate TDI (Toluene Diisocyanate) basic products by USD100 per metric ton in the ASEAN and South Asia in order to restore its prices to a sustainable level, said the producer on its site.
Earlier, BASF announced an increase of USD100 per metric ton in prices for its Lupranate TDI in the Middle East and Africa region (MEAF).
BASF last raised its prices of all its Lupranat MDI (methylene diphenyl diisocyanate) basic products by EUR70 per metric ton and for its Lupranat TDI basic products by EUR50 per metric ton in the EMEA region (Europe, Middle East and Africa) in May 2014.
As MRC wrote before, in September 2015, BASF began its first production of diphenylmethane diisocyanate (MDI) at its wholly-owned site in Chongqing, China. Production will be ramped up gradually in line with market demand.
MDI is an important component for polyurethanes - an extremely versatile plastics material that contributes towards improved insulation, provides lighter materials for cars, and helps save energy in buildings. MDI production will support these key industries in China’s western areas.
BASF is the largest diversified chemical company in the world and is headquartered in Ludwigshafen, Germany. BASF produces a wide range of chemicals, for example solvents, amines, resins, glues, electronic-grade chemicals, industrial gases, basic petrochemicals and inorganic chemicals. The most important customers for this segment are the pharmaceutical, construction, textile and automotive industries. BASF had sales of over EUR74 billion in 2014 and over 113,000 employees as of the end of the year.