SunSirs: The TDI Market Experienced Narrow Fluctuations Last Week (January 26-30)

Price trend

According to SunSirs' commodity market analysis system, the TDI market in East China fluctuated within a narrow range last week. As of January 30th, the average market price in East China was 14,166 RMB/ton, compared to 14,100 RMB/ton on January 26th, representing a weekly increase of 0.47% and a year-on-year increase of 1.19%.

Market analysis

The TDI market maintained its upward trend last week. As of last Friday, the quoted price for domestically produced TDI in East China was 13,800-14,000 RMB/ton; the quoted price for Shanghai-sourced goods was around 14,100-14,200 RMB/ton. Market trading became increasingly cautious during the week, with traders holding back on low-priced offers, awaiting the end-of-month settlement prices and the latest listed prices from major manufacturers at the beginning of the month. The overall market trading atmosphere was subdued, with some offers showing slight increases. End-users showed moderate enthusiasm for restocking. Amidst the supply and demand dynamics, the TDI market experienced narrow fluctuations.

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: Recently, the toluene market has been affected by the strengthening of crude oil prices, leading to a corresponding increase in toluene prices. Since the beginning of January, toluene prices have risen significantly, strengthening the cost support for TDI.

Market Outlook:

According to SunSirs' TDI data analyst, downstream demand was weak, and buyers were cautious, making it difficult for transaction volumes to increase. With limited positive market drivers, it is expected that the TDI market will maintain a range-bound fluctuating trend in the short term.

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