The MDI Price Trend remained firm during Q2 2026, with Polymeric MDI prices generally moving upward through most of the quarter before showing a noticeable correction in June. The market was influenced by supply disruptions, higher benzene costs, changing trade flows, and steady demand from industries that use MDI in everyday products and industrial applications. Toward the end of the quarter, improved availability and softer feedstock costs brought some relief to buyers and pushed prices lower in several regions.

MDI, or methylene diphenyl diisocyanate, is an important raw material used to produce polyurethane. It is widely used in insulation, furniture, construction materials, automotive components, refrigeration equipment, appliances, adhesives, and polyurethane foam. Because of this wide range of applications, changes in MDI Prices can affect purchasing decisions across several industries.

During Q2 2026, the market was not driven by one factor alone. Supply availability, raw material costs, freight conditions, buyer behavior, and downstream demand all played a role. The result was a market that stayed relatively strong for most of the quarter but became softer toward June.

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What Happened to MDI Prices in Q2 2026?

At the beginning and during most of Q2, MDI Prices were supported by higher benzene feedstock costs. Benzene is an important upstream raw material, so when its price rises, producers generally face higher production expenses. This creates pressure to maintain or increase MDI offers.

At the same time, the Iran–USA conflict created additional uncertainty for international trade and logistics. Disruptions in regional trade flows affected product movement and contributed to tighter availability in some markets. When buyers are unsure about future supply, they often try to secure material earlier, which can provide additional support to prices.

Demand also remained healthy. Industries such as polyurethane foam, construction, insulation, automotive, furniture, refrigeration, appliances, and adhesives continued to require MDI. This steady consumption helped prevent a major decline during the first part of the quarter.

However, the situation changed in June. Supply availability improved in several markets, benzene costs became softer, and buyers became more careful with procurement. As a result, MDI Prices declined across a number of important markets.

Global MDI Price Trend

The global MDI Price Trend during Q2 can broadly be divided into two phases.

The first phase was characterized by firm pricing. Higher feedstock costs, supply concerns, and steady downstream consumption encouraged sellers to maintain stronger offers. Buyers were also paying attention to logistics and import availability, which supported market confidence.

The second phase came toward the end of the quarter. Improved supply conditions reduced some of the pressure seen earlier. Lower benzene costs also reduced production-cost pressure. Buyers became more cautious and avoided building excessive inventories when they expected prices to become more favorable.

This shift was visible in the MDI Price Chart, which showed a firm market for most of Q2 followed by a downward adjustment in June.

The MDI Price Index also reflected this change. While market conditions remained relatively healthy, the index showed softer sentiment toward the end of the quarter as availability improved and buyers adopted a more careful purchasing approach.

China MDI Price Trend

China remained an important market for Polymeric MDI during Q2 2026. Export prices on an FOB Shanghai basis stayed firm for most of the quarter.

Higher benzene costs increased production expenses, while supply constraints linked to international trade disruptions supported stronger seller offers. Demand from polyurethane foam, insulation, construction, automotive, furniture, refrigeration, and appliance industries also remained supportive.

However, June brought a significant correction. Polymeric MDI prices in China declined by around 13% during the month.

The decline was mainly linked to better supply availability, lower benzene costs, and more cautious buying. With buyers having greater access to material, there was less urgency to purchase at earlier high levels.

Therefore, the China MDI Price Trend moved from a firm position to a softer direction toward the end of Q2.

Japan MDI Price Trend

Japan also experienced firm Polymeric MDI prices through most of Q2. Higher benzene costs and supply limitations supported the market, while downstream industries continued to provide stable demand.

Polyurethane foam, insulation, construction, automotive, furniture, refrigeration, and appliances remained important consumption areas.

In June, prices declined by approximately 11% as supply conditions improved and benzene costs softened. Greater availability reduced purchasing pressure and encouraged buyers to take a more cautious approach.

The Japanese MDI Price Trend therefore showed a clear late-quarter correction after remaining relatively firm during the earlier part of Q2.

Saudi Arabia MDI Price Trend

Saudi Arabia followed a similar pattern. Polymeric MDI prices remained firm for much of Q2 because of higher feedstock costs and supply-related uncertainty.

Regional logistics and export availability were important considerations for buyers. At the same time, demand from construction, insulation, furniture, automotive, refrigeration, and polyurethane applications remained supportive.

In June, prices declined by around 6%. Better product availability, lower benzene costs, and more careful purchasing contributed to the decline.

Compared with some other markets, the correction in Saudi Arabia was relatively moderate, showing that demand remained reasonably stable even as supply conditions improved.

South Korea MDI Price Trend

South Korea saw a comparatively stable market during Q2. High benzene costs and supply limitations helped keep Polymeric MDI offers firm, while downstream demand provided additional support.

The market remained balanced for most of the quarter. Suppliers maintained controlled pricing, while inventories were managed carefully.

In June, however, Polymeric MDI prices declined by approximately 10%. Improved export availability and lower benzene costs reduced upward pressure on prices.

The South Korean MDI Price Trend therefore shifted toward a softer direction at the end of Q2, although downstream demand remained steady.

India MDI Price Trend

India presented two different pricing situations during Q2 2026.

For imported Polymeric MDI on a CIF JNPT basis, prices remained stable for most of the quarter while following the broader South Korean market trend. Higher import offers were supported by feedstock costs and supply conditions, while domestic demand remained healthy.

Indian buyers across polyurethane foam, insulation, construction, automotive, furniture, refrigeration, and appliance industries continued to purchase material. However, buyers became more cautious as the quarter progressed.

In June, imported MDI prices in India declined by around 10%. Better import availability, lower benzene costs, and cautious procurement contributed to this correction.

The domestic Ex-Mumbai market showed a somewhat different pattern. Prices continued to rise sharply during most of Q2 because domestic availability remained limited and benzene costs were high. Strong downstream demand also supported the market.

By June, domestic Polymeric MDI prices declined by around 4% as local availability improved, feedstock costs softened, and buyers became more selective.

This difference between imported and domestic pricing highlights why the MDI Price Trend can vary even within the same country. Import costs, local availability, inventories, and supplier strategies can all influence the final market price.

Vietnam MDI Price Trend

Vietnam's imported Polymeric MDI prices remained stable for most of Q2 and generally followed the China FOB market.

Strong demand from polyurethane foam, construction, insulation, automotive, furniture, refrigeration, and appliance industries supported buying activity.

The market changed in June when prices declined by around 13%. Better import availability, lower benzene costs, and cautious purchasing resulted in weaker price levels.

The Vietnam MDI Price Trend therefore reflected the same broad pattern seen in China: firm conditions during most of the quarter followed by a noticeable correction toward June.

Turkey MDI Price Trend

Turkey also remained relatively stable for most of Q2, with imported Polymeric MDI prices following the China market direction.

Higher benzene costs increased upstream production expenses, while steady demand from construction, insulation, furniture, automotive, refrigeration, and polyurethane applications supported procurement.

Improved import availability changed the market in June. Prices declined by approximately 10%, supported by lower feedstock costs and more cautious buyer behavior.

The Turkey MDI Price Trend showed that better supply conditions can quickly reduce price pressure even when downstream demand remains steady.

Brazil MDI Price Trend

Brazil followed the South Korean import market closely during Q2. Polymeric MDI prices remained stable for most of the quarter, supported by higher feedstock costs and healthy demand.

Import availability and supplier pricing remained important factors. Buyers continued to purchase for applications including polyurethane foam, insulation, construction, automotive, furniture, refrigeration, and appliances.

In June, prices declined by around 6%. Improved import availability, lower benzene costs, and more careful procurement decisions were the main reasons behind the correction.

The Brazilian MDI Price Trend therefore remained relatively firm overall but ended the quarter on a softer note.

Why Did MDI Prices Fall in June?

The June correction across several markets can be explained through a few simple factors.

First, supply availability improved. When more material becomes available, buyers have less need to secure product quickly.

Second, benzene prices softened. Lower feedstock costs reduce production pressure and can give sellers more flexibility when negotiating prices.

Third, buyers became cautious. When market participants believe prices may fall, they generally avoid purchasing large quantities at higher levels. This can reduce short-term demand and put additional pressure on sellers.

Finally, trade and logistics conditions became less restrictive than earlier in the quarter. Improved product movement helped ease some of the supply concerns that had supported prices.

MDI Price Forecast

Looking ahead, the MDI Price Forecast will depend heavily on the balance between supply, feedstock costs, and downstream demand.

If benzene prices increase again, production costs could rise and provide renewed support to MDI prices. Any fresh disruption to international trade or logistics could also tighten availability and push prices higher.

On the other hand, if supply remains comfortable and benzene prices stay lower, buyers may continue to negotiate more aggressively. Stable downstream demand could prevent a sharp fall, but it may not be strong enough to create significant upward pressure on its own.

For buyers, the key will be monitoring both upstream and downstream developments rather than looking only at the current price.

What the MDI Price Chart and MDI Price Index Show

The MDI Price Chart for Q2 2026 provides a simple picture of the market's movement: prices were generally firm during most of the quarter, followed by a correction in June across several regions.

The MDI Price Index tells a similar story from a broader market perspective. Strong feedstock costs, supply uncertainty, and healthy demand supported the market initially. Later, improved availability, lower feedstock expenses, and cautious procurement created softer conditions.

Looking at both the MDI Price Chart and MDI Price Index can help buyers understand whether a price movement is temporary or part of a broader market change.

Conclusion

The Q2 2026 MDI Price Trend showed how quickly chemical markets can change when supply, raw materials, logistics, and demand interact. Polymeric MDI prices remained firm for most of the quarter because of higher benzene costs, supply limitations, trade disruptions, and steady demand from major downstream industries.

However, June brought a clear change in market direction. Improved availability, softer benzene costs, and cautious purchasing pushed prices lower in China, Japan, Saudi Arabia, South Korea, India, Vietnam, Turkey, and Brazil.

The outlook will continue to depend on feedstock movements, production levels, import availability, logistics, and downstream consumption. For procurement teams and market participants, following MDI Prices, the MDI Price Trend, the MDI Price Chart, and the MDI Price Index together can provide a clearer understanding of current market conditions and future price direction.

Overall, Q2 2026 demonstrated that while strong demand can support MDI prices, improved supply and lower production costs can quickly change market sentiment. Monitoring these factors regularly will remain important for making better purchasing and planning decisions.

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About Price Watch™ AI

Price-Watch™ is an independent raw material price reporting agency that provides real-time price forecasts and data-driven insights into global raw material markets. Price-Watch™ specializes in tracking raw material prices, analyzing market trends. and delivering timely updates on plant shutdowns, supply disruptions, capacity expansions, and demand-supply dynamics. The Price-Watch™ platform empowers manufacturers, traders, and procurement professionals to make faster, smarter decisions. Leveraging AI-powered forecasting and over a decade of historical data, Price-Watch™ transforms market volatility into actionable opportunity.

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