European toluene market is moving with balanced pace as supply available in ample amount.
As per market report, some plants are going to shut for maintenance turnarounds and several plants are going to start in Europe through September and October.
A sudden rash of offers in the market has caught several traders and consumers by surprise when it had looked "super tight”. As per market report, last month, looking to September players was a bit worried about supply because of a lot of turnarounds going on in the European market. But as per current situation, for volume there are not any issues to get it.
A more balanced market had been expected with the restart of BASF's toluene di-isocyanate (TDI) plant. But there is another TDI plant believed to be doing maintenance work. Source said that demand will outstrip supply, especially in the TDI grade as a result of the restart of BASF plant.
