According to the Commodity Market Analysis System of Business Society, the domestic aggregated MDI market showed significant fluctuations in December. From December 1st to 26th, the domestic aggregated MDI market price dropped from 15966 yuan/ton to 15783 yuan/ton, with a price drop of 1.15% during the cycle and a maximum amplitude of 1.59%. The price increased by 3.97% year-on-year.
At the beginning of the month, the domestic aggregated MDI market prices fell, slowly declining, and the overall trading atmosphere was poor, with some shipments showing strong willingness. But as the settlement of supplier prices at the end of the month exceeded expectations, a cautious atmosphere increased, with slow follow-up being the main focus.
In mid month, the trading atmosphere in the domestic aggregated MDI market has improved. As prices fell to a relatively low point within the year, some orders increased and low-priced transactions were made. The market’s focus has slightly adjusted, with a stronger focus following suit.
In the latter half of the month, the domestic aggregated MDI market stabilized first and then strengthened, with most suppliers completing their year-end tasks ahead of schedule and slow delivery rates. Coupled with maintenance cycles, the operating load remained low, and the downstream cold chain industry maintained stable output. The market’s spot supply was tight, boosting its momentum.
As the end of the month approaches, the domestic aggregated MDI market is experiencing a narrow decline, with temperatures plummeting in many regions and terminal markets being hindered by construction, resulting in a significant decrease in demand follow-up capabilities. The quoted prices of traders have slightly declined, maintaining their willingness to ship.
The supply side is influenced by favorable factors.
On the cost side, raw material pure benzene: In December, the domestic pure benzene market first fell and then rose. As of December 26th, the benchmark price of pure benzene by Shengyishe was 7050.50 yuan/ton. Raw material aniline: In December, the price of aniline was weakly adjusted. As of December 26th, the benchmark price of aniline in Shengyishe was 10662.50 yuan/ton. The cost of short-term aggregated MDI is mixed.
On the demand side, as the annual handover month approaches, some contract orders have signed plans, creating a strong atmosphere of upward momentum. Although the follow-up ability on the demand side is still average, and with the recent rainy, snowy, and cold weather in the north, construction is hindered, and the support on the consumption side is insufficient. Recently, there are limitations on on-site warehouse orders, and there is a focus on following up on essential orders. The demand for short-term aggregated MDI is affected by bearish factors.
In the future market forecast, the supply side is relatively stable, and the overall follow-up of the downstream demand side is limited. Business Society’s aggregated MDI analysts predict that domestic aggregated MDI may continue to narrow down.
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