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SunSirs: Aggregated MDI market went weak from 28th Oct to 1st Nov

November 04 2019 14:04:44      (Daisy Wong)

Price Trend

The domestic aggregated MDI market goes weak. As per sample data monitored by SunSirs, the average price of the aggregated MDI market at the beginning of this week was 12,625 RMB/t. And it ended up at the weekend at 12,525 RMB/t. The weekly decline was calculated at 0.79%. Aggregated MDI prices fell by 4.02% over the last month, and fell by 5.59% over the last year.

Market Analysis

Products: The domestic aggregate MDI market is weak from 28th Oct to 1st Nov. The traders from North China, East China Wanhua negotiated the price about 12400-12600 RMB/t. The traders of Shanghai negotiated the price about 11700-12000 RMB/t. And the traders from South China Wanhua talked about 12500-12700 RMB/t. A range of monthly policy of suppliers has been introduced, which helped market maintained a small amount of trading volume. However, the demand of downstream was sluggish, and the industry has insufficient confidence about the market.

In terms of the market, till Friday (1st Nov), the North China and Shandong aggregated MDI markets were at a period of stalemate. A range of monthly policy of suppliers was listed for stability, and individual companies continued to reduce supply. However, the demand of downstream is sluggish. The middlemen did not feel well. And the market spot is still tight at the beginning of the month. The majority of the industry tended to be stable. As per East China's aggregated DI market segmentation claimed, a range of monthly policy of suppliers was launched. The industry has settled at steady price. The downstream were taking small-sized orders from the market. Overall, the market is not well-traded. Some of the players are under pressure from the market outlook and are mainly shipping without taking new orders. As per South China's aggregated MDI market segmentation, a range of monthly policy of suppliers was launched, and the market is still in strict control. The downstream demand is sluggish, the market is not trading well, and the industry has insufficient confidence about the market.

Industry Chain:

Raw Material:

Pure benzene: Asian pure benzene market: Sellers intent to sell at at 623 US USD/t FOB Korea in Dec. Domestic pure benzene market: As per East China's pure benzene market is weak, and, negotiated the price about 5200-5300 RMB/t. Far-month goods traders talked about 5000-5050 RMB/t. Some buying intentions are slightly lower and weaker, and tend to less optimistic. The external disk shocks weaken the support of domestic trade support.

Aniline: The domestic aniline market was stable from 28th Oct to 1st Nov. The East China enterprises had limited up market volume, and downstream had on-demand procurement. The market had a fair trading atmosphere and raw material prices eased. The industry has insufficient confidence about the market.

Market Forecasting

SunSirs View: Good news is that companies have less trading volume in the market and suppliers intend to stabilize the market. As recent bad new continued, the end needs have limited increased with some downstream companies still have early inventory and digested inventories. According to SunSirs analysts claimed, the aggregated MDI market would have low transaction volume in short term.

 

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