Price trend

According to the commodity market analysis system of SunSirs the TDI market in East China continued its upward trend last week. As of November 14, the average market price in East China was 14,233 RMB/ton, compared with 13,866 RMB/ton on November 10, representing a weekly increase of 2.64% and a year-on-year increase of 10.77%.

Last week, the TDI market became increasingly clear, with price increases accelerating. During the week, a major manufacturer in northern China offered a fixed price of 14,200 RMB/ton for TDI through its distribution channels in mid-month, with a 20% discount on supplies; a major manufacturer in Shanghai raised its TDI price to 14,400 RMB/ton, with limited supply; and Shanghai C factory had strong TDI orders and tight inventory, leading to a halt in sales. News of major manufacturers offering discounts and raising prices continued, tightening supply expectations. Intermediaries followed suit, holding back sales at lower prices, resulting in a strong upward trend in the TDI market.

Fundamental situation

On the supply side: On the supply side: Fujian Wanhua's TDI plant was operating at reduced capacity. Hanwha's 150,000-ton/year TDI plant in South Korea shut down for maintenance on November 3rd and is expected to restart around November 20th. Shanghai Covestro had maintenance plans for November.

Cost side: Toluene market saw a slight increase. A slight recovery in the crude oil market improved the spot market sentiment. Overall market sentiment was acceptable, with factories maintaining a strong price stance and downstream buyers replenishing their inventories as needed. Driven by higher crude oil prices, the toluene market maintained a stable to slightly stronger trend.

Market Forecast:

According to data analysts at SunSirs the TDI market was characterized by strong price support from suppliers, with traders reducing their offerings at lower prices and slowing down the replenishment of inventory. The TDI market is expected to remain stronger in the short term, and close attention should be paid to changes in supply and demand.

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