China’s TDI Exports Slumped by 40% YoY in January-February

China's customs statistics show that in January 2024, China imported 1,160 tonnes of TDI worth USD 2 million, at an average price of USD 1,705/tonne. This marked a decrease of 33.8% compared to the previous month and an increase of 544.4% compared to the same period last year.

In January 2024, China exported 21,749 tonnes of TDI worth USD 40 million, at an average price of USD 1,838/tonne. This represented a decrease of 3.28% compared to the previous month and a decrease of 32.08% compared to the same period last year.

In February 2024, China imported 1,992 tonnes of TDI worth USD 3.37 million, at an average price of USD 1,694/tonne. This showed an increase of 71.74% month on month and an increase of 113.78% year on year.

In February 2024, China exported 19,562 tonnes of TDI worth USD 35.27 million, at an average price of USD 1,803/tonne. This indicated a decrease of 10.05% month on month and a decrease of 48.29% year on year.

Table 1 China’s TDI Imports & Exports, 2023-2024 (tonne)

Figure 1: China TDI Exports By Month, 2023-2024 (tonne) 

Table 2: China TDI Export Destinations & Export Volumes, Jan.-Feb. 2024 (tonne)

From January to February 2024, China’s TDI exports amounted to 41,000 tonnes, a significant decrease of 40.9% compared to the same period last year. The main reason for this decline was the tight supply of TDI in China. Major Chinese TDI suppliers reduced their export plans. After export prices were raised, overseas customers adopted a wait-and-see attitude. It is anticipated that subsequent export volumes will return to normal levels.