Price trend

According to the Commodity Market Analysis System of SunSirs, the domestic TDI prices fluctuated and fell in November. At the beginning of the month, the average TDI market price was 17,300 RMB/ton. On November 30th, the TDI price was 16,700 RMB/ton, and it was reduced by 600 RMB/ton within the month, with an overall decline of 3.47%.

Analysis review

In November, the TDI market was weak and fluctuated downward, with little change in factory equipment during the month. TDI spot filling remained slow, and suppliers showed a strong intention to support the market. The trade market had raised prices several times according to the guidance of supplier information, but downstream demand performed poorly, purchasing in the market was mostly done according to demand. The trading atmosphere was light, the confidence in the trade market was insufficient, and the shipment of holders was not smooth, and TDI prices continued to decline.

The upstream toluene market fluctuated and fell, with a price of 6,660 RMB/ton on November 30th, a decrease of 240 RMB/ton from the beginning of the month's price of 6,900 RMB/ton, a decrease of 3.48%. Since November, international crude oil prices had been weak and volatile, with weaker support for the cost of toluene. Downstream demand was in the off-season, market inquiries were cold, and there was insufficient support for toluene. At the same time, external prices had fallen, and toluene port inventories had significantly increased, resulting in significant supply pressure. Under the influence of multiple bearish factors, the negotiated price of toluene in the market is weak and downward.

Market outlook

According to TDI data analysts from SunSirs, the domestic TDI spot filling was slow, with suppliers mainly supporting the market. However, downstream demand performance was average, and the trade market was weak. At the same time, due to the influence of buying up but not buying down sentiment, demand support was insufficient. Under the supply-demand game, it is expected that the short-term TDI market will be weak and consolidated. Specific attention should be paid to downstream follow-up.

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