According to the Commodity Market Analysis System of Business Society, the domestic TDI price continued to decline in March. At the beginning of the month, the average TDI market price was 17900 yuan/ton. On March 31, the TDI price was 16100 yuan/ton, and it was reduced by 1800 yuan/ton within the month, with an overall decline of 10.06%.

The TDI market continued to decline in March. The demand in the terminal sponge market is weak, with limited new overseas orders, low downstream purchasing enthusiasm of TDI, and a small amount of rigid demand procurement in the market. On site trading is light, which has a negative impact on the demand side; In terms of supply, the news from factories is mostly quiet, with some releasing discounted supply and weekly guide price reductions, which is bearish on the trade market. Holders lack confidence and are offering discounts to sell, causing the market’s transaction center to continuously shift downwards. At the same time, affected by the mentality of buying up but not falling, TDI prices are operating weakly.

The upstream toluene market rose in March, with a price of 7350 yuan/ton as of March 31st, an increase of 140 yuan/ton from the beginning of the month’s price of 7210 yuan/ton, an increase of 1.94%. Affected by the fluctuation and rise in international crude oil prices, the cost of toluene continues to support; After the holiday, the profit margin for downstream disproportionation has increased, supporting the demand for toluene; The decrease in port inventory has supported the upward trend of toluene.

According to TDI data analysts from Business Society, currently TDI factories in China are mainly on the wait-and-see side, while trade markets are negotiating shipments. The focus of transactions continues to decline, and there is a bearish atmosphere in the market. Downstream terminal market transactions are limited, and TDI demand support is weak. Business owners are mostly on the wait-and-see side. Under the supply-demand game, it is expected that the short-term TDI market will continue to be weak and consolidate. Specific attention will be paid to downstream follow-up.