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SunSirs: In the Early of January, the TDI Market Was Wait-and-see and Sorted out
January 12 2023 09:46:15SunSirs(John)

Price trend

According to the monitoring data of SunSirs, the price trend of TDI in East China rose slightly in the first ten days of January. On January 10, the average market price in East China was 19,066.67 RMB/ton, up 1.42% compared with the price of 18,800.00 RMB/ton at the beginning of the month, and up 11.72% month-on-month.

Analysis review

In the first ten days of January, the TDI market was waiting and sorting out, and the downstream demand continued to be weak, just rigid downstream entered the market for inquiry, followed up slowly. The supply side market had a slow filling of spot goods, and the supplier's mentality was firm. The trading market offered a high price, and the low price offers in the market was fewer. After the New Year's Day, the offer of traders moved up slightly. As of the 10th, the quotation range of domestic goods in the distribution market in East China was around 18,700-18,800 RMB/ton, and that of Shanghai goods was 19,000-19,200 RMB/ton. The actual order was based on negotiation.

The upstream toluene market was stronger and the price trend had risen sharply. As of January 10, the domestic average price of toluene was around 6,460 RMB/ton, up 9.12% from 5,920 RMB/ton at the beginning of January. The crude oil price fell first and then rose, the raw material support was weak, the downstream warehouse was built ahead of schedule, the purchasing enthusiasm increased, the demand performance was fair, and the focus of the toluene market was up.

Market outlook

The TDI data analyst of SunSirs believes that the current market news is quiet, the TDI spot filling is slow, the supplier support continues to be good, the trade market offer is firm, and the downstream may be replenishment operation near the Spring Festival holiday, and the supplier market occupies a dominant position. In the short term, the TDI market is strong at a high level, and attentions should be paid to the downstream follow-up.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com

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