Price trend

According to the Commodity Market Analysis System of SunSirs, after a wide decline in the TDI market in East China in April, it rebounded slightly and the overall trend declined. At the beginning of the month, the average TDI market price was 12,066 RMB/ton. On April 29th, the TDI price was 10,700 RMB/ton, a decrease of 11.33% during the month and a year-on-year decrease of 30.97%.

Analysis review

In April, the TDI market in East China was negatively affected by both supply and demand as well as news, causing prices to fall to a low level before rebounding slightly. In early April, Fujian Wanhua and Xinjiang Juli operated at medium to high loads, with fast filling of goods and loose supply. Affected by the news of tariff policies, the export market was hindered, and downstream market entry was cautious. Domestic demand was relatively flat, with limited demand pull. The market lacked favorable support, and the mainstream price of TDI has fallen to 10,000-10,500 RMB/ton. In late April, suppliers gathered strength and increased prices, with low-end quotations probing the rise. At the same time, major manufacturers had frequent maintenance plans, but due to demand constraints, the increase was limited.

Supply side: Fujian Wanhua, Xinjiang Juli, Gansu Yinguang operated at medium to high loads. BASF's 160,000 tons/year TDI plant in Shanghai has a maintenance plan in May, while Japan's Tosa has a maintenance plan from May to July. Other devices maintained stable operation.

In April, the upstream toluene market experienced a wide downward trend. From April 1st to 27th, the domestic toluene market price fell from 6,120 RMB/ton to 5,490 RMB/ton, with a price drop of 10.29% during the period. Crude oil prices fell sharply this month, and the market sentiment was weak. Downstream purchases were made on dips. The overall performance of the aromatic hydrocarbon market was weak, and the toluene market was dragged down by weak prices.

Market outlook

The TDI data analyst from SunSirs believes that the TDI market demand was average, and although suppliers were actively promoting it, the upward trend was weak. Pay close attention to the changes in market supply and demand in May, and it is expected the TDI market to consolidate and operate within a certain range in the short term.

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