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SunSirs: TDI Prices Continued to Decline in November
December 01 2020 13:44:39SunSirs(John)

Price trend

According to data from SunSirs’ bulk list, the trend of TDI prices in East China continued to decline in November. The average TDI market price at the beginning of the month was 16,666.67 RMB/ton, and the average TDI price at the end of the month was 12,933.33 RMB/ton. The overall decline in the month was 22.40%, an increase of 11.49% from last year.

Analysis review  

The domestic TDI market price continued to decline this month. Driven by the continuous downward adjustment of factory guidance prices, the market's bearish sentiment continued, and the market decline was obvious. Driven by the rebound of related products, polyether, some downstream inventories just needed to stock up mentality, and the low-priced supply in the market was overwhelming, downstream had low acceptance of high prices and weak purchasing enthusiasm, and there was greater resistance to trading in the mainstream market. In the later period, the polyether rebounded again and the price continued to rise, which put greater pressure on downstream sponge factories. The purchases were mainly based on pre-stock or on-demand purchases, and the TDI market was cautious. As of the 30th, domestic products in East China were quoted at 12,500-12,800 RMB/ton, and the quoted price of Shanghai cargo with tickets was 13,000 RMB/ton.

This month, the domestic TDI upstream nitric acid price trend rose steadily. As of the end of the month, the market price was 1,800 RMB/ton. The market demand was stable, and the manufacturer's quotation was flexible. The later market may run steadily. The price trend of upstream toluene fluctuated upwards, port inventory remained high, destocking pressure remained unabated, downstream demand was general, and market transactions were not active. The current dealers' quotation in East China is roughly around 3,580 RMB/ton. It is expected that the price of toluene in the domestic market may maintain a volatile trend in the later period.

Market outlook

According to the analysis of the data analyst of SunSirs, the current TDI market is weak and deadlocked, the mentality of the industry is deadlocked, the mentality of dealers is becoming more cautious, and downstream demand has begun to enter the off-season. It is expected that the short-term TDI market will continue to organize and operate, and pay attention to factory policy guidelines.

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