MDI Market Increased Significantly This Week（Sept 1-7, 2017)
The Chinese MDI market increased dramatically. Up to September 7, the mainstream negotiation price of TDI was in the range of RMB 35,000-35,500/mt by cash in the Chinese market, which was up RMB 5,000/mt and the increase rate was 16.53%. The price mentioned above was delivered price or self-delivery price with VAT.
The supply of TDI was thin and the amount of import was few. The supply of TDI was quite scarce in the spot market. The traders were reluctant to sell goods at low prices, while the downstream users resisted to high prices and purchased MDI on a need-to basis. The mainstream negotiation price increased greatly.
The downstream users showed resistance to such a high price. The supply of MDI will maintain stably before Noevember, as Wanhua Chemical will postpone the maintenance of the 1200kt/a units to November. In the future, the players will focus on the supply of MDI and the overall MDI market.
Disclaimer: Echemi reserves the right of final explanation and revision for all the information.