According to the Commodity Market Analysis System of Business Society, TDI prices in East China continued to decline this week. On March 14th, the average market price in East China was 16900 yuan/ton, a decrease of 500 yuan/ton compared to the price of 17400 yuan/ton on March 8th, a decrease of 2.87%, and a month on month decrease of 0.59%.
The TDI market is weak, downstream purchasing enthusiasm is low, and there is a small amount of essential procurement in the market. The actual trading atmosphere is light. At the beginning of the week, profit taking orders were sold at low prices to ensure safety, driving the focus of market negotiations downward. Under the sentiment of buying up but not buying down, TDI prices continue to decline, and market demand is insufficient. The TDI market is operating weakly.
The upstream toluene market remained stable with a downward trend. On March 14th, the domestic average price of toluene was around 7250 yuan/ton, a decrease of 0.28% from the price of 7270 yuan/ton on March 8th. The narrow fluctuations in international crude oil prices provide some support for the cost of toluene. Downstream production of xylene is temporarily stable, with sufficient support for toluene’s demand. At the same time, the recovery of the domestic mixed blending market is slow, and the demand for toluene is weak. In addition, with the continued increase in toluene port inventory, supply pressure has increased, and the price of toluene has stabilized and declined.
In the future market analysis, TDI data analysts from Business Society believe that domestic TDI prices continue to decline, and suppliers are mainly wait-and-see in the short term. Under the influence of psychological factors, there may be a willingness to raise prices in the future market. Downstream follow-up is needed, and market trading is limited. There is a game of supply and demand on the market, and it is expected that the TDI market will remain stagnant and consolidate in the later stage. Specific information on major manufacturers will be released.
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