North America
Throughout quarter IV of 2022, Hexamethylene Diisocyanate prices fluctuated in the North American region. Initially, the product prices increased due to increased feedstock Nitric Acid and Ammonia prices due to high upstream costs amid rising inflation and consistent demand and offtakes of products from the downstream Polyurethane industries. The orders for the Polyurethane form were firm from the manufacturing sector during H1 of Q4 due to expected consumer demand from the automotive producers and furnishing mills because of upbeat consumer sentiment. However, in the mid-quarter, the price trend shifted, and HDI prices decreased on the back of increased inventory levels due to reduced import orders and a reduction in the upstream costs due to a decline in the WTI Crude oil prices. Finally, at the end month of Q4, the product prices decreased further on the back of low offtakes from end-use industries.

Asia
At the beginning of quarter IV of 2022, Hexamethylene Diisocyanate prices increased amid affected supplies and firm demand from regional and European importers. In the mid-quarter, the prices started declining due to weak trading activities and an increase in domestic inventory levels in China because of disruption in the supply chain amid zero covid controls and limited transportation activities. At the end of Q4, product prices showed mixed sentiments amid destocking practices by the exporters at the end of the year. However, the exports to the overseas market were also affected by covid restrictions, and the product prices increased due to affected feedstock supplies amid supply chain disruption and decreased production rates.

Europe
Hexamethylene Diisocyanate prices shifted throughout the Q4 of 2022 in the European region. At the beginning of Q4, the product prices increased slightly amid affected production rates in the downstream Polyurethane industries due to the unavailability of HDI supplies. Consequently, the orders and offtakes remained moderate from the downstream Polyurethane producers. However, in the H2 of the quarter, the product prices declined due to a reduction in offtakes by downstream buyers on the back of reduced orders for PU from the household goods producers. Finally, towards the end of the year, product prices decreased again due to off-season dullness in offtakes by downstream buyers.

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