Price trend:

According to the commodity market analysis system of SunSirs, the TDI market in East China remained stable this week. As of November 21, the average market price in East China was 14,233 RMB/ton, the same as the average price on November 17, with no change during the week and a year-on-year increase of 12.52%.

Market Analysis

The TDI market stabilized after rising this week. As of Friday, offers for domestic TDI in East China were around 13,500-13,900 RMB/ton, while offers for TDI from Shanghai were around 14,000-14,300 RMB/ton. Suppliers maintained their willingness to hold prices firm throughout the week, leading to a slowdown in market transactions. Traders lowered prices slightly to stimulate sales. Downstream demand was primarily driven by immediate needs, resulting in a wait-and-see attitude and a stagnant market due to the supply-demand dynamic.

On the supply side: Fujian Wanhua's TDI plant is 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 25th. Shanghai Covestro has 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 outlook

According to data analysts at SunSirs, the news that major TDI manufacturers in northern China raised their fixed price to 14,400 RMB/ton for late November on Friday will boost market confidence, and the TDI market is expected to remain strong in the short term.

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