November 20, 2025-With immediate effectm or as contract terms allow, BASF will increase prices for its Lupranate MDI (Methylene Diphenyl Diisocyanate) basic products by $200 per metric ton in South Asia.
Price adjustments are necessary due to continued increased in the cost of transportation, energy and regulatory efforts.
Huntsman and Covestro: It is learned that Covestro and Huntsman have also successively raised their product quotations for November: Shanghai Covestro's pure MDI in the first ten days of November was raised by 300 yuan per ton compared with the previous month.
The listing price of Shanghai Huntsman's pure MDI in November was raised by 500 yuan per ton compared with the previous month.
Wanhua Chemical: On November 27th, Wanhua Chemical announced that it will increase the prices of its polymer MDI and pure MDI products in Southeast Asia and South Asia by 200 US dollars per ton (approximately equivalent to 1,416 RMB per ton) starting from December 1st, 2025, or in accordance with the established contract.
It is worth mentioning that the routine maintenance of the second phase of Wanhua Chemical's MDI plant in Ningbo (1 million tons/year) began on November 15, 2025, and is expected to last for about 55 days.
In addition, according to market sources, Covestro and BASF (Chongqing) are both expected to carry out centralized maintenance in December. This will undoubtedly significantly reduce market supply and further strengthen expectations of price hikes.
Many industry experts are well aware that the production facilities for MDI have the characteristics of high technical requirements, large investments scale, and complex operation management. Only a few chemical enterprises worldwide possess the core production technologies, including BASF and Covestro from Germany, Hunstman from from the United States, and Tokai from Japan, etc. This has resulted in a typical oligopoly market.
