Price Trend
Domestic aggregated MDI market continued to weaken. According to the sample data monitored by business associations, the average market price of aggregated MDI was 14,000 yuan/ton at the beginning of this week, and 13,625 yuan/ton at the weekend. The market price of aggregated MDI fell by 2.68% in the week, 36.75% compared with the same period last year.
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II. Market Analysis
Product: This week, the aggregate MDI market as a whole showed a small fluctuation, first rising slightly and then falling slightly. Up to now, the mainstream price of Shanghai goods is around 12600-12800 yuan/ton, while the mainstream price of Wanhua goods is around 13800 yuan/ton. At the beginning of the week, market news was chaotic, and the price of Cosco was rumored to be 13500 yuan/ton, which raised the market price slightly. Businessmen raised their quotations one after another. The downstream inquiries were positive, and the trading situation was still acceptable. On the evening of the same day, the guideline price of Cosco was 13,000 yuan/ton, and the mindset of the traders was frustrated, then the market price began to show a narrow downward trend. On Wednesday, Wanhua evening market announced its June listing price of 14500 yuan/ton, a sharp drop in the ring-to-ring ratio. On Thursday, Huntsman announced its June listing price of 14300 yuan per ton in midday trading, which was also down sharply from last month. Two listings have been announced one after another, the latter is gradually pessimistic.
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On the market side, as of Friday (5.31), the aggregate MDI market in South China was weak. Businessmen have a pessimistic attitude towards the future market. Holders follow the market and talk about it one by one, and watch other manufacturers guide prices. Eastern China is consolidating the weak market of MDI. Businessmen’s mentality is frustrated. Holders mainly accompany the shipment and watch the listing guidelines of other manufacturers. The market of aggregated MDI in North China is mainly weak. Wanhua manufacturer announces the new moon listing, which has little stimulating effect. Businessmen are frustrated. Holders actively deliver goods along with them and look at price guidelines from other manufacturers.
Industry chain: raw materials, pure benzene: This week, the price of pure benzene in East China rose slightly, the mainstream talks in East China ranged from 4500 to 4550 yuan / ton, and Shandong mainstream talks ranged from 4250 to 4380 yuan / ton. Within a week, the number of ships arriving at the port decreased, and the inventory of East China Port decreased slightly to about 230,000 tons. The decline in port inventory gives the market a chance to soar, colleagues, this week’s large increase in external prices also has some psychological support for the rise of domestic pure benzene. In the week, the price of pure benzene in East China rose slightly to around 4550 yuan/ton, and Sinopec’s listed price in East China rose 50 yuan/ton to 4500 yuan/ton. However, after the price rise, the downstream still maintains on-demand purchasing, and the turnover has not improved significantly.
3. Future Market Forecast
Business Cooperative Perspective: June is approaching the hard bubble off-season gradually, maintenance devices are resuming production, new market sources “surge” into the market, coupled with a large number of social stocks accumulated in the first half of the year, the downstream demand consumption is much worse than in previous years. Business Cooperative MDI analysts expect that aggregate MDI market prices will face the possibility of further exploration, and watch the latest developments of manufacturers and businesses.