Price trend

According to the Commodity Market Analysis System of SunSirs, the domestic TDI prices fell in a stepwise manner in September. At the beginning of the month, the average TDI market price was 14,100 RMB/ton. On September 30th, the TDI price was 13,050 RMB/ton, a decrease of 7.45% during the month and a year-on-year decrease of 27.63%.

Analysis review

In September, the domestic TDI market operated weakly, with prices falling sharply. The TDI market in September was greatly affected by the demand side, with weak downstream demand. In order to stimulate sales, supplier prices continued to loosen, and the focus of transactions continued to shift downwards. Under the atmosphere of buying up and not buying down, the market had a strong wait-and-see atmosphere.

The upstream toluene market experienced a wide decline, with the domestic average price of toluene at around 5,909 RMB/ton as of September 30th, a decrease of 13.61% from the price of 6,840 RMB/ton on September 1st. The crude oil market trend was weak this month, and the overall market environment was bearish. Under the downstream wait-and-see mentality, market trading was clearly sluggish. The main refineries had repeatedly lowered their ex factory prices, and local refining enterprises had continuously lowered their quotations. Downstream companies were observing and the purchasing enthusiasm was generally weak.

Market outlook

The TDI data analyst from SunSirs believes that throughout September, the TDI market was in a state of strong supply and weak demand. The downstream market performed poorly in terms of demand, maintaining the intention to purchase for essential needs. Although there was stocking demand in the downstream near the holiday, overall demand was still difficult to increase, and the demand side was still weak. It is expected that the TDI market will operate to be weaker in the short term, and specific attention should be paid to downstream purchasing follow-up.

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