Bharuch, India – GNFC had a 'remarkable' year of TDI production in 2019, but prices were depressed, and the company complained of dumping.
GNFC – Gujarat Narmada Valley Fertilisers & Chemicals – is India's only indigenous producer of TDI. Its annual report claims that last year it had its highest ever yearly production of a number of products, including TDI.
The company said: 'Overall, TDI market sentiment remained unfavourable during the whole year reflecting oversupply.' GNFC said it believed the market had been oversupplied since July 2018. 'TDI prices in the international market remained at bottom. Dumping of imports affected the viability of TDI-2 operation,' it added.