According to the commodity market analysis system of Business Society, the TDI market in East China experienced narrow fluctuations this week. As of January 30, the average market price in East China was 14,166 yuan per ton, compared to 14,100 yuan per ton on January 26, representing a weekly increase of 0.47% and a year-on-year rise of 1.19%. The TDI market maintained an upward trend this week. By the end of the week, the quoted price for domestically produced TDI in East China ranged between 13,800 and 14,000 yuan per ton, while the quoted price for Shanghai-origin TDI was around 14,100 to 14,200 yuan per ton.
Market transactions became increasingly cautious during the week, with traders holding back on low-price offers as they awaited the settlement prices from major producers at the end of the month and the latest listed prices for the beginning of the next month. The overall trading atmosphere remained subdued, with some quotations experiencing slight increases. Downstream buyers showed limited enthusiasm for restocking, leading to a narrow fluctuation in the TDI market amid a tug-of-war between supply and demand.
On the supply side, Fujian Wanhua’s 360,000-ton-per-year TDI unit experienced a temporary shutdown, while a 50,000-ton-per-year TDI unit in South Korea underwent maintenance, which is expected to last two weeks.
On the cost side, the toluene market followed the upward trend of crude oil, with prices rising significantly since January, thereby strengthening the cost support for TDI.
Looking ahead, TDI analysts at Business Society believe that downstream demand remains weak, with cautious market participation and limited transaction volumes. Given the limited positive drivers in the current market, it is expected that the TDI market will maintain a range-bound fluctuation trend in the short term.
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