Price trend
According to the Commodity Market Analysis System of SunSirs, the TDI market in East China has been operating strongly this week, with a broad upward trend. As of January 17th, the average market price in East China was 14,000 RMB/ton, and on January 13th, the average price was 13,500 RMB/ton. Within the week, it rose by 3.7% and fell by 16.67% year-on-year.
Analysis review
This week, there have been continuous positive news in the TDI market, with a significant boost in news coverage. There have been frequent price adjustments in factories during the week, with the latest TDI execution price of 14,100 RMB/ton for a large factory in Shanghai, an increase of 800 RMB/ton compared to the previous period. The prices of ASEAN Wanhua MDI and Wanhua TDI would increased by 200 RMB/ton. The TDI distribution channel of a large northern factory had a fixed price of 14,000 RMB/ton on January 20th, with discounted supply. The tight supply situation on site has not improved, and the supplier's mentality was good, with a strong atmosphere of high prices. Downstream market entry was cautious, with insufficient stocking willingness and a lack of actual order support for high priced goods.
Supply side: The operation of Gansu Yinguang's equipment was unstable, resulting in reduced load operation. The 150,000 ton TDI plant of Hanhua in South Korea was scheduled to undergo routine shutdown and maintenance in mid February 2025, with a planned maintenance period of one month. Other devices maintain medium to high load operation.
Cost wise: Upstream toluene has recently seen a significant increase, providing stronger support for TDI.
Market outlook
The TDI data analyst from SunSirs believes that the TDI market was slowly filled with goods, and some factories prioritize exported orders. Considering the current high TDI prices, it is expected that the TDI market will mainly absorb the increase in the short term and closely monitor changes in market supply and demand.
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