According to the Commodity Market Analysis System of Shengyi Society, the TDI market in East China continued to rise this week. As of November 14th, the average market price in East China was 14233 yuan/ton, and on November 10th, the average price was 13866 yuan/ton, with a weekly increase of 2.64% and a year-on-year increase of 10.77%.
This week, the TDI market has become increasingly clear, with an increase in gains. During the week, a large TDI distribution channel in the north had a fixed price of 14200 yuan/ton in the middle of the week, with a 20% discount for supply; The TDI price of a large factory in Shanghai has been raised to 14400 yuan/ton, with limited supply; Shanghai C factory TDI orders are strong, inventory is tight, and orders are closed. Mainstream large factories continue to offer discounts and price increases, leading to tightening supply expectations. Intermediaries are following the trend and selling at low prices, leading to a strong upward trend in the TDI market.
Supply side: Fujian TDI plant operates with reduced load. The 150000 ton/year TDI plant of Hanhua in South Korea was shut down for maintenance on November 3rd and is expected to resume operation around November 20th. Shanghai Covestro has a maintenance plan for November.
Cost wise: The toluene market has seen a slight increase. The crude oil market has slightly rebounded, driving an improvement in the atmosphere of the spot market. The overall market atmosphere is still acceptable, with factories showing a strong willingness to raise prices. Downstream suppliers are replenishing their inventory as needed, and the toluene market is showing a stable but strong trend due to the rise in crude oil prices.
In terms of future market analysis, the TDI data analyst from Shengyi Society believes that the current TDI market has a strong mentality of price support from suppliers, traders are converging at low prices, and the speed of source filling is slowing down. It is expected that the TDI market will operate strongly in the short term and closely monitor changes in supply and demand in the future.