SunSirs: The Fundamentals Were Weak, the TDI Market Weakly Declined in October

Price trend:

According to the commodity market analysis system of SunSirs, the domestic East China TDI market fluctuated and declined in October, maintaining a weak trend. At the beginning of the month, the average price of TDI was 13,800 RMB/ton, and on October 29, the price of TDI was 13,500 RMB/ton, a decrease of 2.17% within the month, and an increase of 3.05% year-on-year.

Analysis review

The TDI market remained weak in October. Suppliers maintained prices while their willingness to ship remained high, and traders followed market trends. To stimulate sales, the price center shifted slightly downwards. News was relatively quiet, overall operating rates were stable, and supply replenished quickly. With supply exceeding demand, TDI market transactions were generally weak, and prices fluctuated downwards.

Supply side: Fujian Wanhua's TDI plant was operating at reduced capacity. Other plants were operating stably.

Cost side: The toluene market in October was bearish in terms of supply and demand. Downstream demand from the chemical and oil blending industries was relatively stable, with purchases mainly driven by immediate needs. Prices in the East China market declined, and downstream activity was weak. Coupled with the impact of weakening crude oil prices, toluene prices fluctuated downwards.

Market Forecast:

According to analysts at SunSirs, the overall supply of TDI in October was ample. While Shanghai plants had maintenance plans for November, the impact on the overall supply side was limited. With weakening demand expected, the TDI market is projected to remain weak in the short term.

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