According to the Commodity Market Analysis System of Shengyi Society, the domestic aggregated MDI market stopped falling and rose in September. From September 1st to 30th, the domestic market price of aggregated MDI increased from 17300 yuan/ton to 18083 yuan/ton, with a monthly price increase of 4.83% and a year-on-year price increase of 9.6%.

In the first half of the month, the domestic price of aggregated MDI continued to decline, and the supply of suppliers was tight, leading to an increased reluctance to sell and downstream urgent procurement.

In mid to late September, a large northern manufacturer’s aggregated MDI distribution channel sold out its planned supply for the first ten days of September. In addition, due to the impact of the European floods, the export plan was adjusted, and the supply of aggregated MDI distribution spot by a large northern manufacturer was reduced. In September, the distribution channel stopped accepting orders, and there was no stock available in the market.

Due to the impact of natural disasters on the supply side, the raw material aniline plant is experiencing force majeure, resulting in reduced load operation of the MDI plant. BASF’s 400000 ton MDI plant in Chongqing unexpectedly shut down, expected to last for about 10 days, and the supply side remains tight.

On the cost side, raw material pure benzene: The domestic pure benzene market is fluctuating upwards. As of September 30th, the benchmark price of pure benzene in Shengyi Society is 8193 yuan/ton. Raw material aniline: The domestic aniline market has fluctuated and fallen. As of September 30th, the benchmark price of aniline in Shengyi Society is 10062 yuan/ton. The cost support for aggregated MDI is weak.

On the demand side, downstream demand remains high and demand follows smoothly. Boosted by news, downstream buying sentiment is strong, and actual transactions remain at the previous level.

In the future forecast, downstream pre holiday stocking is basically completed, and enterprises that reduce production due to parking in the future will gradually return to normal. It is expected that the market will maintain a tight supply situation in the short term, and the aggregated MDI market will operate relatively strongly.