According to the Commodity Market Analysis System of Business Society, from January 29th to February 4th, the domestic aggregated MDI market price increased from 16166 yuan/ton to 16200 yuan/ton, with a price increase of 0.21% during the cycle, a month on month increase of 4.07%, and a year-on-year decrease of 3.34%. The domestic aggregated MDI market tends to follow closely, with actual order follow-up significantly weakened compared to the previous period as the Spring Festival holiday approaches. Logistics transportation is approaching its end, with concentrated delivery as the main focus, and new order follow-up is relatively limited.

The supply side is affected by favorable factors such as reduced supply from production enterprises.

On the cost side, raw material pure benzene: The price of domestic pure benzene has significantly increased. The increase in production is limited, and downstream factory inventories are low. As of February 4th, the benchmark price of pure benzene for Shengyishe is 7967.17 yuan/ton. Raw material aniline: The domestic price of aniline is stable, with a slight increase, and cost support is stable. Some aniline factories are planning to shut down for maintenance, while some downstream factories are stocking up in small quantities. The shipment of aniline factories is smooth, and the inventory pressure of factories is reduced, resulting in a slight increase in the price of aniline. As of February 4th, the benchmark price of aniline in Shengyishe is 10425.00 yuan/ton. The cost side of MDI aggregation is influenced by favorable factors.

On the demand side, except for the cold industry, most downstream markets are closed and waiting for entry after the holiday. Considering the maintenance of mid to low levels of finished product and raw material inventories before the holiday, the overall follow-up pressure is not significant. The short-term aggregate MDI demand side is temporarily affected by bearish factors.

In the future market forecast, with favorable cost support, the overall inventory level remains low. We are waiting for the demand side to follow up and recover after the holiday. Business Society’s aggregated MDI analyst predicts that the domestic aggregated MDI market will be mainly wait-and-see consolidation.