Price trend:
According to the commodity market analysis system of SunSirs, from November 10th to 14th, the domestic MDI market price shifted slightly upward. The average price at the beginning of the week was 14,300 RMB/ton, and the average price at the end of the week was 14,466 RMB/ton, an increase of 1.17% during the period, and a decrease of 21.38% year-on-year. During the week, the MDI market was stable with a slight upward trend. The supply of major manufacturers was tight, and major manufacturers had maintenance plans in the near future. Traders were reluctant to sell at low prices and operated cautiously, resulting in a slight price increase.
Market Analysis
On the supply side, Kumho Chemical's 200,000-ton/year MDI plant in South Korea underwent maintenance in early September for 20-30 days and had resumed operation. Wanhua Chemical's Ningbo plant had a maintenance plan in November, while its other units were operating smoothly.
On the cost side, the benzene market improved slightly recently. However, insufficient downstream orders and continued losses continue, resulting in low enthusiasm for raw material procurement. But as benzene prices hit new lows, downstream buyers entered the market at lower prices, leading to a slight recovery. Prices rose slightly last week. The aniline market recently consolidated after an initial rise. On November 5th, the aniline market price was 7,525 RMB/ton, and on November 13th, the price was 7,737 RMB/ton, representing an increase of 2.82% within the period.
On the demand side, downstream demand remained weak, and the market had not shown any significant improvement. Given the weak fundamentals, the MDI market is unlikely to see any improvement.
Market outlook
As of November 14, suppliers in the MDI market were still willing to maintain prices, while downstream demand was driven by immediate needs. Close attention should be paid to market transactions, and the MDI market is expected to remain stable in the short term.
If you have any inquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.
