According to the Commodity Market Analysis System of Business Society, the domestic aggregated MDI market fluctuated and declined in March. From March 1st to 29th, the domestic aggregated MDI market price dropped from 17050 yuan/ton to 16516 yuan/ton, with a monthly price drop of 3.13% and a year-on-year increase of 2.21%.
At the beginning of the month, the domestic aggregated MDI market experienced a weak downward trend, with limited trading atmosphere and strong trading sentiment among traders. Overall, the intention to negotiate remained strong, and market prices fell, with relatively insufficient support.
In the first half of the month, the domestic aggregated MDI market prices fell, with limited follow-up on the demand side and a less than expected buying atmosphere. The downstream end has limited resilience.
In mid month, the domestic aggregated MDI market prices first fell and then rebounded, and the follow-up atmosphere improved slightly, with transactions mainly focusing on rigid demand orders. The overall performance of downstream industries is average, and currently, they mainly consume inventory.
As the end of the month approaches, the domestic aggregated MDI market is experiencing a weak downward trend in prices, with poor support and relatively average follow-up on new orders. The driving force on the demand side is lower than expected, social inventory is released, traders have a pessimistic mentality, and the market situation continues to weaken.
The supply side is affected by favorable factors such as reduced supply from production enterprises.
On the cost side, raw material pure benzene: Some pure benzene traders are bearish in the future and actively sell their holdings, resulting in an increase in market commodity volume and weakened buying sentiment, with average transactions. As of March 29th, the benchmark price of pure benzene in Shengyishe is 8457.17 yuan/ton. Raw material aniline: The aniline market continued to rise in March, and as of March 29th, the benchmark price of Shangyishe aniline was 11655.00 yuan/ton. The cost impact of short-term aggregated MDI is mixed.
On the demand side, downstream demand has recovered less than expected, and there is still room for lower priced stocks. Currently, the purchasing enthusiasm of small and medium-sized factories is not good. The short-term demand side support is still limited, and we will follow up on urgent orders. Except for the cold industry, the start-up of other industries is not yet obvious, and the cautious atmosphere is still strong, with overall slow follow-up being the main focus. The short-term aggregate MDI demand side is temporarily affected by bearish factors.
In the future market forecast, with the price falling, the overall follow-up momentum is still average. However, considering that the price has fallen into the pre holiday low point, the overall attention will increase. Business Society’s aggregated MDI analyst predicts that the domestic aggregated MDI market will mainly consolidate.
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