Price trend

According to SunSirs' commodity price analysis system, the TDI market in East China saw a slight increase last week. As of February 6th, the average market price in East China was 14,500 RMB/ton, compared to 14,333 RMB/ton on February 2nd, representing a weekly increase of 1.16% and a year-on-year decrease of 0.68%.

The TDI market maintained its upward trend last week. As of Friday, the quoted price for domestically produced TDI in East China was 14,200-14,400 RMB/ton; the quoted price for Shanghai-produced goods was around 14,500-14,600 RMB/ton. During the week, BASF announced a price increase of US$200/ton for TDI in the Asia-Pacific region (excluding mainland China) and the MEAF region. This, coupled with unstable operation of some production facilities and delays in replenishing supplies, boosted market confidence. Suppliers held firm on prices, and intermediaries followed market trends, resulting in fewer low-end quotes. In terms of demand, with the Spring Festival approaching, downstream stockpiling is nearing completion, and transaction volumes were generally average.

Market analysis

Supply side: Fujian Wanhua's 360,000 tons/year TDI plant was temporarily shut down; a 50,000 tons/year TDI plant in South Korea was shut down for maintenance, expected to last two weeks.

Cost side: The trading atmosphere for toluene had weakened, and prices had fallen from their highs due to insufficient buying interest.

Market outlook

According to SunSirs' TDI data analyst, with the Spring Festival holiday approaching, the market is expected to maintain its current trend and consolidate. Supported by supply-side factors, the TDI market is projected to remain in a stalemate and consolidate in the short term.

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