Price trend

According to the SunSirs commodity market analysis system, the TDI market in East China rebounded last week, halting its decline. As of September 12, the average price in East China was 13,866 RMB/ton, compared to 13,666 RMB/ton on September 8, a weekly increase of 1.46% and a year-on-year increase of 1.22%.

Analysis review

The TDI market rebounded last week, halting its decline. Positive news from suppliers emerged throughout the week, with major northern manufacturers offering 20% off, leading to tight supply. Shanghai manufacturers raised their suggested retail prices to 14,200 RMB/ton, leading to tight inventory. This news boosted market confidence, and intermediaries raised their quotes. Downstream demand was mainly based on rigid demand, and the enthusiasm for entering the market was not high. With prices rising, transactions were sluggish.

On the supply side: Yantai Wanhua's TDI unit began shutting down for maintenance on August 19th, expected to last approximately 40 days. Other units maintained stable operations.

On the cost side: The toluene market was generally weak, with average trading volume and limited news guidance, leading to a strong wait-and-see attitude.

Market outlook

TDI data analysts of SunSirs believe that the current TDI market was full of supply-side support for prices, but the demand side had limited support. It’s needed to closely monitor changes in market supply and demand and news in the future. In the short term, downstream enthusiasm for entering the market is not high, and the TDI market is expected to digest the price increase and consolidate its operation.

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