MDI market trend weakens narrowly

According to the Commodity Market Analysis System of Business Society, from March 11th to 15th, the domestic aggregated MDI market price fell from 17000 yuan/ton to 16800 yuan/ton, with a 1.18% decrease in price during the cycle, a 1.61% increase compared to the previous period, and a 0.12% year-on-year decrease. The domestic aggregated MDI market prices have fallen, with limited follow-up on the demand side and a less than expected purchasing atmosphere. The downstream end has limited resilience.


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The supply side is affected by favorable factors such as reduced supply from production enterprises.


On the cost side, raw material pure benzene: domestic pure benzene prices are relatively high. The domestic production of pure benzene has limited changes, and the downstream demand for pick-up is stable. However, the number of imported goods on board has increased, and port inventories have slightly accumulated. As of March 15th, the benchmark price of pure benzene for Shengyishe is 8508.83 yuan/ton. Raw material aniline: Domestic aniline prices first fell and then rose, with high inventory and pressure from aniline factories. Downstream demand is weak, leading to a decline in aniline prices; In the later stage, the price of pure benzene as a raw material increased, and cost support strengthened. After a tentative slight increase in the aniline factory, shipments from the aniline factory were smooth, inventory pressure decreased, and the price of aniline continued to rise. The cost impact of aggregating MDI is mixed.


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On the demand side, downstream demand has not recovered as expected, and there is still room for lower demand. Currently, small and medium-sized factories have poor purchasing enthusiasm, and their acceptance of the current aggregated MDI price is still average, with limited overall transmission. The impact of short-term aggregate MDI demand is mixed.


In the future market forecast, as the supply of goods stabilizes and the quantity of goods is abundant, downstream follow-up will continue to be slow, and buying will be weak. Business Society’s MDI analyst predicts that the domestic aggregated MDI market is mainly weak and consolidating.

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