According to the Commodity Market Analysis System of Business Society, TDI prices in East China continued to decline this week. On October 29th, the average market price in East China was 17900 yuan/ton, a decrease of 500 yuan/ton compared to the price of 18400 yuan/ton on October 23rd, a decrease of 2.72%, and a decrease of 0.74% compared to the beginning of the month.

This week, domestic TDI prices continued to decline, supply side supply increased, business sentiment weakened, and shipping intentions increased. However, terminal performance was mediocre, downstream demand was weak, and cargo holders’ shipments were hindered. The weekly quotation continued to decline, market trading was sluggish, and the TDI market was weak and downward.

The price of upstream toluene fell, and the market was weak during the week. On October 29th, the domestic average price of toluene was around 6960 yuan/ton, a decrease of 2.38% compared to the price of 7130 yuan/ton on October 23rd. Since October, the overall international crude oil price has decreased, and the cost support for toluene has weakened. Downstream has entered a off-season, with weak market inquiries and insufficient demand support. In addition, toluene production has been stable, and supply has increased. Under the influence of multiple bearish factors, the negotiated price for toluene in the market has decreased.

After market analysis, TDI data analysts from the Business Society believe that domestic TDI supply is stabilizing, downstream demand is weak, factory news is quiet, trade market confidence is insufficient, and the sentiment of buying up or not buying down is gradually affecting the demand side. Under the supply and demand game, it is expected that the short-term TDI market will weaken and consolidate, and specific attention will be paid to downstream follow-up.