SunSirs: TDI Market Rose up Step by Step in August

https://www.chemnet.com   Aug 30,2024 SunSirs

Price trend

According to the Commodity Market Analysis System of SunSirs, the domestic TDI price rose step by step in August. At the beginning of the month, the average TDI market price was 13,433 RMB/ton. On August 29th, the TDI price was 14,350 RMB/ton, with a monthly increase of 6.82% and a year-on-year decrease of 23.13%.

Analysis review

The domestic TDI market showed significant growth in August, mainly due to favorable supply side conditions. After the maintenance of the 390,000 ton TDI plant in Wanhua Yantai on July 16th, the 150,000 ton TDI plant in Wanhua Xinjiang and the 120,000 ton TDI plant in Gansu Yinguang were shut down for maintenance in August. The market was effectively boosted, with an increase in market inquiries and a gradual increase in purchasing power. Downstream companies actively entered the market, and TDI rose accordingly. Subsequently, prices continued to operate at a high level. In the latter half of the month, some companies slightly increased their prices, and the overall market remained stable, with a loosening of the actual transaction focus.

The upstream toluene market fluctuated downward, with the domestic average price of toluene at around 6,850 RMB/ton as of August 29th, a decrease of 7.28% from the price of 7,390 RMB/ton on August 1st. The decline in crude oil prices within the month had dragged down market sentiment, and the overall market atmosphere was bearish. The overall demand was weak, and the purchasing enthusiasm of the gasoline blending industry was low. The downstream market entry enthusiasm was also low, coupled with the weakening of the macro level, resulting in a weak decline in the toluene market.

Market outlook

The TDI data analyst from SunSirs believes that as entering September, some of the equipment maintenance will be completed. If we start operating as scheduled, the market supply will increase, and the supply side will have all the benefits. With the demand side remaining weak, it is expected that the TDI market will operate to be weaker in the short term. Please pay attention to the follow-up situation of downstream procurement.

If you have any questions, please feel free to contact SunSirs with?support@SunSirs.com.

 Print  |    add to Favorites  |    Close