According to the Commodity Market Analysis System of Business Society, the domestic TDI price stabilized first and then increased in February. At the beginning of the month, the average TDI market price was 17000 yuan/ton. On February 29th, the TDI price was 17500 yuan/ton, an increase of 500 yuan/ton within the month, with an overall increase of 2.94%.

The TDI market showed a strong upward trend in February. Before the holiday, multiple sets of TDI devices in the factory were reduced in load, and spot filling was slow. The TDI market was mainly bullish, while the downstream pre holiday stocking atmosphere was average. The market trading atmosphere was weak, and traders were conflicted. TDI quotations remained stable; After the holiday, news of TDI price increases, overseas device failures, and maintenance plans for TDI devices in large factories in northern China were released. Subsequently, TDI prices in Shanghai were closed and orders were temporarily not accepted until the end of the month when BASF and Wanhua Chemical were listed for a significant increase in March. Market positive news was stacked layer by layer, and the trading market followed the guidance of the news. TDI prices continued to rise.

The upstream toluene market showed a strong upward trend in February. On February 29th, the price was at 7210 yuan/ton, an increase of 330 yuan/ton from the beginning of the month’s price of 6880 yuan/ton, an increase of 4.80%. 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; However, the continued increase in port inventories has brought resistance to the upward trend of toluene.

TDI data analyst from Business Society analyzed that the current domestic TDI spot filling is still slow, and the supplier market is mainly strong. Considering the maintenance of the Wanhua plant in Fujian in March, the market supply of goods may tighten, and prices may increase. However, the downstream trading of terminals is weak, and market demand is lower than expected. Downstream procurement of TDI is limited. Under the supply-demand game, it is expected that the TDI market will remain stagnant and operate in March. Specific attention will be paid to downstream follow-up.