In the first half of April, the TDI market in East China first rose and then fell, with gains giving up. As of April 14th, the average market price in East China was 20100 yuan/ton, and as of April 1st, the average price was 20200 yuan/ton, a decrease of 0.5% during the period and an increase of 81.63% year-on-year. Due to high prices, downstream resistance is evident, demand is sluggish, and market transaction prices have loosened.
Supply and demand side: Domestic facilities such as Wanhua maintain medium to high load operation, market inventory is low, domestic demand is average, and foreign demand is good.
On the cost side: The toluene market fluctuates with crude oil prices, with downstream demand for replenishment and average gas purchases, causing toluene prices to fluctuate and decline.
Overall, the TDI market currently has ample supply, weak domestic demand, export support, and low inventory levels, which interact with each other to minimize price fluctuations. Based on the spot market analysis of Shengyi Society, the 10 day moving average and the 20 day moving average have overlapped, indicating that the market has reached a turning point and the price position is high, with limited upward space. TDI prices may be weakly stabilized and consolidated.
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