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SunSirs: Commodity Chemicals: The Toluene Diisocyanate Market in East China is Weak On November 18
November 19 2019 14:57:27SunSirs(Daisy)

1. Price Trend

The Toluene Diisocyanate (TDI) Commodity Index is 62.61 on November 18, which is 1.41 points lower than yesterday. This Index is 74.76% lower than highest point at 248.02 on October 19,2016 in the cycle, and is 4.06% higher than the lowest point at 60.17 on February 22, 2016 (Note: Cycle refers to September 1,2011 to date).

2. Market Analysis

Products: According to data from SunSirs, the price trend of TDI in East China market is lower on the November 18. The average price of TDI East China market is 11,183.33 RMB/ton, a decrease of 2.20%. The TDI market in East China is weakly sideways. The atmosphere in the market is sluggish with quite low turnover rate. The players cautiously report price. And there are much low-price inventory flowing in the market. At present, the domestically produced goods with outbound tickets refer to 11,300-11,400 RMB/ton. Shanghai cargo with the outbound tickets refer to 11,600 RMB/ton.

Industry chain: On the last trading day, Sinopec's South China enterprises raise the listing price of toluene by 150 RMB/ton. Shandong refining enterprises have a stable listing price today, roughly at 5,700 RMB/ton. And traders in East China have a stable offer, roughly at 5,800 RMB/ton. In terms of nitric acid, the price trend in East China is stable at present. The quotation of manufacturers is mainly weak but stable. Some manufacturers even slightly lower the price. The market demand for nitric acid is still weak. The market quote is light but stable. It is expected that the market will be sideways in the later period.

Industry: The factory is still weak. Last week, the Shanghai factory guidance price has been lowered to 12,100 RMB/ton, and the northern factory has settled 11,900 RMB/ton. The supply side has bad news. Some factories have abandoned the price and suppressed the market mentality. Market confidence is being lost. The spot price and future price is continuously making a new low. A pessimistic attitude is pervasive among the industry. Players give up some economic profit to sell their inventory. The market atmosphere is sluggish with few on-going transactions. Low-price disks frequently appear.

3. Market Forecasting

SunSirs’ TDI analysts believe that after the domestic TDI market fell in a narrow range last week. The downstream follow-up is still in the doldrums. Only small-size orders are following up. As the price goes down, players tend to more cautious. The decline will be slightly slow. It is predicted that this week's TDI market is weak and volatile. It is important to focus on the factory news.

4. Related Listed Companies

Zhangzhou Dahua Co.,Ltd, Beihua Co.,Ltd

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

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