The chemicals in this appear to be really nasty. There's something like 700 tons of sodium cyanide, supposedly, plus unspecified amounts of calcium carbide, toluene diisocyanate, and ammonium nitrate. The last is familiar to many people -- ammonium nitrate is a fertilizer or an explosive, depending on how you look at it (and how you handle it). Calcium carbide is nasty because if you get it wet it creates acetelyne gas, which is very flammable and might explain some of the initial very cinematic-looking fireball. Sodium cyanide plus water makes hydrogen cyanide, which is also very flammable (and toxic). Toluene diisocyanate is similar, and produces toxix gasses when heated, even if it doesn't burn.
None of this stuff has any business being stored near residential areas in these quantities. (Or apartment buildings should be nowhere near their storage places, depending on which came first).