SunSirs: Boosted by News, MDI Prices Rose (January 13-17)
January 21 2025 09:19:11 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, from January 13th to 17th, the domestic MDI market operated relatively strongly, with an average price of 18,233 RMB/ton at the beginning of the week and 18,283 RMB/ton at the end of the week, an increase of 0.27% during the period and a year-on-year increase of 16.45%. The domestic MDI market saw a slight increase during the week, with ASEAN Wanhua MDI and Wanhua TDI prices set to rise by 200 USD/ton. Boosted by news, the domestic MDI market saw a slight increase, with downstream demand entering the market and mainstream factories prioritizing export orders.
Analysis review
On the supply side, domestic facilities were maintaining stable operation. The 410,000 ton/year facility in Jinhu, South Korea was scheduled to undergo maintenance starting from February 9th, lasting for about a month.
On the cost side, raw material benzene: Recently, the benzene market has seen a slight increase. As of January 17th, the benchmark price of benzene in SunSirs was 7,531 RMB/ton. Raw material aniline: As of January 17th, the domestic aniline market was stable. As of January 17th, the benchmark price of aniline in SunSirs was 9,075 RMB/ton. The overall impact of aggregating MDI costs was relatively small.
On the demand side, downstream demand was following steadily, and the export market was performing well. As the holiday approaching and logistics was about to shut down, there were more concentrated deliveries.
Market outlook
The trend of the MDI market is stronger, with slow filling of goods sources and low inventory levels in the market. It is expected that the MDI market will operate to be stronger.
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