According to the Commodity Market Analysis System of Shengyi Society, the TDI market in East China has been operating strongly this week, with a broad upward trend. As of January 17th, the average market price in East China was 14000 yuan/ton, and on January 13th, the average price was 13500 yuan/ton. Within the week, it rose by 3.7% and fell by 16.67% year-on-year.

This week, there have been continuous positive news in the TDI market, with a significant boost in news coverage. There have been frequent price adjustments in factories during the week, with the latest TDI execution price of 14100 yuan/ton for a large factory in Shanghai, an increase of 800 yuan/ton compared to the previous period. The prices of ASEAN Wanhua MDI and Wanhua TDI will be increased by $200/ton. The TDI distribution channel of a large northern factory has a fixed price of 14000 yuan/ton on January 20th, with discounted supply. The tight supply situation on site has not improved, and the supplier’s mentality is good, with a strong atmosphere of high prices. Downstream market entry is cautious, with insufficient stocking willingness and a lack of actual order support for high priced goods.

Supply side: The operation of Gansu Yinguang’s equipment is unstable, resulting in reduced load operation. The 150000 ton TDI plant of Hanhua in South Korea is scheduled to undergo routine shutdown and maintenance in mid February 2025, with a planned maintenance period of one month. Other devices maintain medium to high load operation.

Cost wise: Upstream toluene has recently seen a significant increase, providing stronger support for TDI.

According to the analysis of the future market, the TDI data analyst from Shengyi Society believes that the current TDI market supply filling is slow, and some factories prioritize export orders. Considering that TDI prices have risen to a high level, it is expected that the TDI market will mainly digest the increase in the short term and closely monitor changes in market supply and demand.