According to the Commodity Market Analysis System of Shengyi Society, the TDI market in East China maintained stable operation this week. As of November 21, the average market price in East China was 14233 yuan/ton, and on November 17, the average price was 14233 yuan/ton, with no increase or decrease during the week and a year-on-year increase of 12.52%.
The TDI market has stabilized after rising this week. As of this Friday, the domestic offer price for TDI in East China is between 13500-13900 yuan/ton; The Shanghai cargo offer price is around 14000-14300 yuan/ton. The willingness of suppliers to raise prices during the week has not decreased, and the market transaction speed has slowed down. In order to stimulate sales, traders have seen a narrow decline in the focus of transactions. Downstream demand has entered the market, and there is a strong wait-and-see atmosphere. Under the supply-demand game, the TDI market is in a stalemate to maintain stable operation.
Supply side: Fujian TDI plant operates with reduced load. The 150000 ton/year TDI plant of Hanhua in South Korea was shut down for maintenance on November 3rd and is expected to resume operation around November 25th. Shanghai Covestro has a maintenance plan for November.
Cost wise: The toluene market has seen a slight increase. The crude oil market has slightly rebounded, driving an improvement in the atmosphere of the spot market. The overall market atmosphere is still acceptable, with factories showing a strong willingness to raise prices. Downstream suppliers are replenishing their inventory as needed, and the toluene market is showing a stable but strong trend due to the rise in crude oil prices.
Market analysis shows that TDI data analysts from Shengyi Society believe that on Friday, the fixed price for TDI distribution channels in northern China was raised to 14400 yuan/ton in late November, which will boost market confidence. It is expected that the TDI market will have a strong trend in the short term.