According to the Commodity Market Analysis System of Shengyi Society, from March 10th to 14th, the domestic aggregated MDI market experienced a weak decline, with an average price of 17466 yuan/ton at the beginning of the week and 17400 yuan/ton at the end of the week, a decrease of 0.38% during the period and a year-on-year increase of 3.57%. The domestic MDI aggregation market did not see any improvement in transactions within the week, and there is a strong willingness to ship at low prices. Downstream cautious entry into the market, limited news boost, and the market remains weak.

On the supply side, the domestic Fujian plant operates at low negative loads, while other plants operate smoothly. The 70000 ton/year MDI plant of Japan’s Covestro will begin maintenance in early March and is expected to be serviced around January. Huntsman’s 500000 ton MDI plant located in North America is scheduled to be shut down for maintenance starting from early March, lasting for one month.

On the cost side, raw material pure benzene: The price of pure benzene has continued to decline, and the operating rate of pure benzene has rebounded. The inventory of pure benzene in ports continues to decrease, and downstream production of caprolactam is at a high level. The demand for pure benzene is relatively strong, and currently it is still mainly supported by costs. Raw material aniline: Aniline has fallen, with a mainstream price of 8700-8850 yuan/ton. The overall shipment of aniline factory is not smooth, with accumulated inventory and insufficient confidence in the field.

On the demand side, downstream demand follow-up is average, with a focus on essential needs. Export orders are still acceptable, but demand needs further improvement.

Future forecast: The current aggregated MDI market is running weakly, supported by overseas maintenance news, with suppliers controlling their inventory and digesting it, waiting for demand to rebound.