According to the Commodity Market Analysis System of Business Society, TDI prices in East China continued to decline in late November. On November 30th, the average market price in East China was 16700 yuan/ton, a decrease of 500 yuan/ton compared to the price of 17200 yuan/ton on November 21st, a decrease of 2.91%.
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The domestic TDI market has been weak and declining this cycle, with prices continuing to decline. The factory equipment has not changed much, the supplier’s news is quiet, the trade market mentality is not good, terminal inquiries are cold, downstream procurement is sluggish, market trading is weak, shippers have poor shipments, and the confidence of operators is insufficient. The TDI transaction center continues to shift downwards.
The price of upstream toluene has fallen, and the market situation has been weak and downward during the cycle. On November 30th, the domestic average price of toluene was around 6660 yuan/ton, a 2.06% overall decrease from the price of 6800 yuan/ton on November 21st. The international crude oil price range fluctuates, with weak support for the cost of toluene. Downstream demand enters the off-season, market inquiries are weak, and support for toluene demand is weak. In addition, the external price has fallen, and toluene port inventory has significantly increased. The supply side is negatively affected, and the toluene market lacks support, resulting in a downward trend in the market.
In the future market analysis, TDI data analysts from Business Society believe that mainstream device maintenance and tight supply of goods in the domestic TDI market are the main reasons for traders to hold up prices. However, downstream buyers have a weak buying attitude and a feeling of just in need procurement. The market trading atmosphere is not good, and there is a game of supply and demand on the market. It is expected that the TDI market will remain stagnant and consolidate in the later stage, and specific attention will be paid to downstream follow-up.
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