# Polyurethanes (MDI, TDI, polyols): Trading

Wanhua's monthly list price sets the tone

Source page: https://www.materialinsights.org/chemicals/polyurethanes/trading/

Wanhua's monthly list price sets the tone What this tab covers How it is bought and sold: buyers and sellers, price benchmarks and who publishes them, exchanges, contract types, traders, how Indian buyers price it, recent price points, and good sources to follow.

#### Who buys, and where

- India
- Southeast Asia
- Middle East
- Latin America
- Africa

#### Who sells, and from where

- China (Wanhua and others)
- Saudi Arabia (Sadara)
- Hungary (BorsodChem)
- US Gulf Coast
- Germany
- South Korea and Japan

#### Price benchmarks

| Benchmark | Publisher | Basis |
|---|---|---|
| **ICIS polymeric MDI and TDI Asia, Europe, US** | ICIS | spot and monthly contract |
| **China MDI and TDI domestic prices** | SunSirs, PU Daily, CCF | daily domestic |
| **Wanhua monthly list prices for China and export** | Wanhua | monthly |

#### Exchanges

| Venue | Contract | Notes |
|---|---|---|
| **none** | no futures for MDI, TDI or polyols | Hedging is through contract structure, not exchanges. |

#### Contract types

- Annual supply agreements with monthly price resets
- Producer monthly list prices (Wanhua, BASF, Covestro)
- Spot cargoes in drums, IBCs and ISO tanks

#### Traders and distributors

- Producer sales arms
- Japanese trading houses
- Indian distributors and systems houses

#### How Indian buyers price it

- Indian buyers price MDI and polyols at CFR India import parity, often against Chinese and Sadara offers (indicative).
- TDI landed price includes the anti-dumping duty on EU and Saudi supply, extended to 1 March 2026 pending review; DGTR issued sunset-review final findings on 12 Nov 2025 (Alchempro; TeamLease RegTech, Nov 2025).

#### Recent price points

| Date | Price | Basis | Source |
|---|---|---|---|
| 31 Dec 2024 | **CNY 18,100-18,300/t** | China polymeric MDI | faxiangongchang 2026 |
| Sep 2025 | **about $2,110/t (about CNY 15,000)** | China MDI average | faxiangongchang 2026 |
| H2 2025 | **CNY 14,300-14,500/t** | China TDI | faxiangongchang 2026 |

#### Good sources to follow
[ISOPA eco-profiles and publications](https://www.isopa.org/lct-and-ecoprofiles/)free research site · ISOPA (European diisocyanate and polyol producers)

Life-cycle data and safe handling of MDI, TDI and polyols
[PU Daily](https://pudaily.com)freemium newsletter · PU Daily

Polyurethane market news, including India and China
[ICIS polyurethanes](https://www.icis.com/explore/commodities/chemicals/polyurethanes/)paid research site · ICIS

MDI, TDI and polyol prices
[Alchempro chemicals news](https://www.alchempro.com/news/chemicals-news)free research site · Alchempro

Indian chemical prices and DGTR trade remedies

## Other sections

- [Summary](https://www.materialinsights.org/chemicals/polyurethanes/index.md)
- [Overview](https://www.materialinsights.org/chemicals/polyurethanes/overview/index.md)
- [Correlation](https://www.materialinsights.org/chemicals/polyurethanes/correlation/index.md)
- [Production route](https://www.materialinsights.org/chemicals/polyurethanes/routes/index.md)
- [Production](https://www.materialinsights.org/chemicals/polyurethanes/production/index.md)
- [Feedstocks](https://www.materialinsights.org/chemicals/polyurethanes/feedstocks/index.md)
- [Cycles](https://www.materialinsights.org/chemicals/polyurethanes/cycles/index.md)
- [Movement](https://www.materialinsights.org/chemicals/polyurethanes/movement/index.md)
- [Regulation](https://www.materialinsights.org/chemicals/polyurethanes/regulation/index.md)
- [Characteristics](https://www.materialinsights.org/chemicals/polyurethanes/characteristics/index.md)
- [Emissions](https://www.materialinsights.org/chemicals/polyurethanes/emissions/index.md)
- [Relationships](https://www.materialinsights.org/chemicals/polyurethanes/links/index.md)