According to the Commodity Market Analysis System of Shengyi Society, from April 20th to 24th, the domestic aggregated MDI market prices fell weakly, with an average price of 19600 yuan/ton at the beginning of the week and 19066 yuan/ton on April 24th, a decrease of 2.72% during the week and a year-on-year increase of 27.54%. During the week, major factories experienced a tight supply of goods, but the export market remained strong. Downstream demand has entered the market, with a majority of small transactions, and traders are lowering prices to sell their goods.
Supply side: On April 20th, some MDI units of BASF Shanghai were shut down for maintenance, with a duration of about 1-2 weeks. The MDI plant in Jinhu, South Korea (200000 tons/year) has a routine maintenance plan starting from early April, with a duration of about one month.
On the cost side: During the week, the price of pure benzene fluctuated upwards, downstream entered the market at a low price, pure benzene production was low, and maintenance was further intensified. Prices decreased, buying gas increased, and demand increased. The factory has raised prices, and demand has been suppressed. Recently, the situation in the Strait of Hormuz remains uncertain, and the pure benzene market is expected to operate strongly in the short term.
Demand side: Downstream demand is weak, with fewer inquiries and pressure from intermediaries on their shipments, resulting in price reductions.
Future forecast: The current aggregated MDI market is under downward pressure, but rigid support on the cost side still exists. It is expected that the aggregated MDI market will experience a narrow range of fluctuations in the short term.
| http://www.polyvinylalcohols.com |