Price trend

According to the Commodity Market Analysis System of SunSirs, the TDI market in East China was strong and rising last week. As of July 4th, the average market price in East China was 11,866 RMB/ton, and as of June 30th, the average price was 11,733 RMB/ton, with a weekly increase of 1.14% and a year-on-year decrease of 16.43%.

Analysis review

Last week, TDI market suppliers had a strong willingness to raise prices and actively promote price increases. The market supply was tight, and traders were reluctant to sell at low prices, with a focus on fast in and fast out. The news of major factories raising prices within the week had landed. Further boosted market confidence. Downstream on-demand procurement created a strong resistance to high prices, and under the supply-demand game, TDI remained strong and upward.

Supply side: The 300,000 ton/year TDI plant in Fujian underewent maintenance on June 5th, lasting for 45 days.

Cost side: The price of toluene decreased, with an average price of 6,070 RMB/ton at the beginning of the week and 5,732 RMB/ton over the weekend, a decrease of 5.45% during the week. The downstream procurement atmosphere was quiet, and oil prices were weak and fluctuating recently, which had limited support for toluene.

Market outlook

The TDI data analyst from SunSirs believes that with the news of price increases from major companies, it is expected that trading prices will follow suit, and the TDI market is expected to operate to be stronger in the short term.

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