Price trend
According to the Commodity Market Analysis System of SunSirs, TDI prices in East China fell first and then rose in mid November. On November 20th, the average market price in East China was 17,100.00 RMB/ton, a decrease of 0.19% compared to the price of 17,133.33 RMB/ton on November 11th, and a decrease of 1.16% compared to the beginning of the month.
Analysis review
The domestic TDI market was weak and consolidated during this cycle, with prices falling first and then rising during the week. Before the 15th, the enthusiasm of domestic downstream market entry was lackluster, the market trading atmosphere was weak, the supply side news was quiet, the trade market mentality was pessimistic, and the shipment of cargo holders was not smooth, and the TDI offer continued to move downward; In the later stage, the news of the shutdown and lockdown of Shanghai's large factory equipment was released, and the spot filling was tightened. The trading market, guided by supplier information, quoted prices stopped falling and rebounded. However, due to the still weak downstream purchasing sentiment and insufficient confidence among traders, the TDI trading center only slightly increased.
The price of upstream toluene had decreased, and the market situation was weak during the cycle. On November 20th, the domestic average price of toluene was around 6,800.00 RMB/ton, a decrease of 1.32% compared to the price of 6,890.00 RMB/ton on November 11th. The international crude oil price was weak and volatile, and the cost support for toluene had weakened. Downstream demand had entered the off-season, with weak market inquiries and insufficient demand support. In addition, due to the abundant supply of toluene, the toluene market had been weak and consolidated.
Market outlook
According to TDI data analysts from SunSirs, the supply of goods in the domestic TDI market was slow to fill, and traders had a strong intention to increase prices. However, downstream demand was flat, the market trading atmosphere was light, and TDI growth was limited. Under the supply and demand game, it is expected that the TDI market will fluctuate and consolidate in the short term. Please pay attention to the downstream follow-up situation.
