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SunSirs: In March, the TDI Market Was Weak and Declined

April 06 2023 13:35:51     SunSirs (John)

Price trend

According to monitoring data from SunSirs, the domestic TDI price trend continued to decline in March. At the beginning of the month, the average TDI market price was 19,500 RMB/ton, and at the end of the month, the price was 17,700 RMB/ton. Within the month, the price was reduced by 1,800 RMB/ton, an overall decrease of 9.23%.

Analysis review

In March, the TDI market was weak and declined. Downstream demand continued to be weak during the month, market inquiries were sluggish, and the trading market atmosphere was cold. The intention to support the price was strong but no strength, and the operator had a bearish mentality. In order to maintain the pace of shipment, the TDI offer continued to move downwards, with obvious pessimism on the market, and the TDI price continued to decline.

The upstream toluene market was sorted down, with a price of 7,080 RMB/ton at the end of the month, a decrease of 230 RMB/ton compared to the price of 7,310 RMB/ton at the beginning of the month, and an overall decrease of 3.15%. The cost of naphtha had significantly decreased, and the declined price of raw materials had a negative impact on the toluene market. At the same time, downstream terminal demand was lower than expected, and according to market news guidance, the price trend of toluene was weak and lowered.

Market outlook

According to the TDI data analyst from SunSirs, downstream demand for TDI was sluggish, the atmosphere for inquiries on the market was light, and the supplier's mentality was pessimistic. The TDI quotation was weak, and the supply and demand was in a stalemate on the market. It is expected that TDI will be sorted out in the later stage, and specific attention should be paid to downstream follow-up.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.

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