Price trend

According to the Commodity Market Analysis System of SunSirs, from November 18th to 22nd, the domestic aggregate MDI market fell weakly, with an average price of 18,400 RMB/ton at the beginning of the week and 18,333 RMB/ton at the end of the week, a decrease of 0.36% during the cycle and a year-on-year increase of 12.94%. During the week, the domestic MDI market operated weakly, with average downstream purchasing intentions and a focus on essential needs. At the same time, the news boost was limited, and the MDI market remained stagnant and consolidated..

Analysis review

On the supply side, Shanghai Huntsman's 350,000 ton/year plant was undergoing maintenance for approximately one month. Shanghai Covestro operated at low loads and had maintenance plans in the near future. Partial maintenance of Wanhua Ningbo plant, had low load operations.

On the cost side, raw material benzene: Recently, the benzene market had seen a slight increase. As of November 22nd, the benchmark price of benzene in SunSirs was 7,405 RMB/ton. Raw material aniline: As of November 22nd, the domestic aniline market first fell and then rose. As of November 22nd, the benchmark price of aniline in SunSirs was 9,087 RMB/ton. The overall impact of aggregating MDI costs was relatively small.

On the demand side, there was insufficient follow-up on downstream demand, resulting in low transaction volume and no signs of improvement in the near future.

Market outlook

The trend of the MDI market was weak, with a downward trend in transaction volume. At the same time, there was limited news support, and the mentality of industry players wass poor. It is expected that the MDI market will operate to be weaker in the short term.

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