Cangzhou, Hefei – Chinese TDI maker Dahua reported CNY50m ($7m) net profit over the first nine months of 2019. This is down by 95% compared with the same period in 2018.
Sales during the period plunged by 55% year on year to CNY1.6bn, said the company’s Q3 report.
'Chinese producers were in ordinary operation in Q3 2019,' said the company. 'There was ample TDI supply and the competition was fierce.'
The material’s price in the China market averaged at CNY11,272 /tonne in Q3 2019, down by 49% compared with Q3 2018.
Feedstock methylbenzene’s price decreased by 10% from a year ago to CNY5,069/ tonne. Methylbenzene price were lower in Q2 but bounced back in Q3 following the hike in energy and bulk chemicals price, said the company.
In Q3 2019 Dahua produced 38.8kT ton TDI and sold 36.4kT , generating CNY411m in sales, said the company. Caustic soda also contributed CNY82m sales in Q3.
