1、 Price trend

According to the price monitoring of the business agency, the domestic aggregate MDI market was weak and volatile this week. At the beginning of the week, the average price of the domestic aggregate MDI market was 11875 yuan / ton, while at the end of the week, the average price of the domestic aggregate MDI market was 11350 yuan / ton, with a decrease of 4.42% in the week. The price was 10.98% lower than that of the same period last month and 37.29% lower than that of the same period last year.

2、 Market analysis

Product: this week, the price of aggregate MDI market was weak and fluctuated, and the negotiation fell slightly. In this week’s market, the overall atmosphere is sluggish. Agents are in the early stage of the month, shipping is a little cautious. Middlemen are pessimistic in the future. They are actively bagging for safety. The low-end prices are constantly refreshing. In the middle of the week, the rate of decline is accelerating. The weekly guidance prices of both costron and Ryanair factories are 11300 yuan / ton, and the industry is a little pessimistic. Huntsman and BASF Shanghai are understood to have maintenance plans by the end of April; one production line of Wanhua Ningbo plant is also temporarily shut down, and the supplier has been cheering up news about the coming weekend. Market low price news, but some industry still find it difficult to boost demand, prices still have room to fall.

Industry chain: raw materials, pure benzene: the price of pure benzene fell sharply this week. Affected by the decline of crude oil and external market, the price of East China market fell sharply. At present, the arbitrage window between the United States and South Korea is closed, and the Chinese market has become the preferred arbitrage target for us dollar supply; the price advantage of imported goods compared with domestic contract goods also makes domestic downstream users tend to increase import volume and reduce contract volume. Therefore, negotiations on import sources were more active in the week.

Aniline: in the week, the domestic aniline market fell rapidly. At the beginning of the week, due to the low inventory of enterprises, the price of Shandong aniline Market remained stable. The price of the East China market was depressed by the impact of MDI enterprise contracts. As Sinopec’s listing of pure benzene continues to decrease, the price difference between raw material pure benzene and aniline widens, and the profit of aniline increases, and downstream plants are in conflict with high price aniline. In addition, Huatai and Jinling Dongying units are in normal operation, market supply is increasing, Jinling prices are falling, and other factories follow suit.

3、 Future forecast

Business Club view: under the supply-demand game, business club aggregation MDI analysts predict that the weak market of short-term domestic aggregation MDI will mainly wait and see the transaction situation.