Asia Polyols, Isocyanates: PMDI weakens on soft demand; TDI, polyols stable / PMDI falls $50/mt on weak India, China demand / TDI steady as limited availability offsets poor downstream demand / Slabstock polyol stable despite China market volatility, rising PO values

Oct 31, 2026

CFR India polymeric methylene diphenyl diisocyanate at $2,345/mt on Oct. 30, down $50/mt week over week, under the offer heard at $2,350/mt from a seller. Market feedback indicated weak demand from India following the Diwali festival and is expected to remain slow through December. A source added that extended labor holidays continued to weigh on consumption and did not expect significant volatility in the near term. “The week following Diwali is expected to see labor shortages from Uttar Pradesh and Bihar,” a Japanese manufacturer told . On the supply side, the availability of Japan-origin cargoes remained limited. Domestic India ex-works offers were heard at 235-240 rupees/kg from an Indian seller amid limited exports. Additionally, the Chinese market also remained lean amid weak sentiment for November, with buying interest expected to...

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