According to the Commodity Market Analysis System of Shengyi Society, from June 9th to 13th, the domestic aggregated MDI market experienced a weak decline, with an average price of 16133 yuan/ton at the beginning of the week and 15916 yuan/ton at the end of the week, a decrease of 1.34% during the period and a year-on-year decrease of 11%. The restart and maintenance of the maintenance enterprise coexist within the week, and the supply side remains stable. Downstream demand is weak, entering the market at a low price, and there is no obvious positive guidance in the market, causing the price of aggregated MDI to continue to decline.

On the supply side, BASF and Huntsman plants in Shanghai have restarted. Fujian Wanhua underwent maintenance on June 5th, lasting approximately 45 days. The 70000 ton/year MDI plant in Tosa, Japan will undergo maintenance and overhaul in early May, with a duration of approximately 40 days; The 130000 tons/year MDI plant will be shut down for maintenance in mid May, with a duration of approximately 40 days. The 200000 ton/year MDI plant in Jinhu, South Korea is scheduled for maintenance on May 20th, with a duration of approximately one month.
In terms of cost, both pure benzene and aniline raw materials have increased, with pure benzene rising by 3.55% and aniline rising by 1.38% this week.
On the demand side, downstream is currently in the off-season of consumption, with a focus on essential needs and a high volume of small orders, creating a strong wait-and-see atmosphere.
In the future forecast, the supply side support of the current aggregated MDI market is still acceptable, and large factories in the north are operating at a reduced load. It is expected that the aggregated MDI market will stop falling and stabilize in the short term. We will closely monitor the progress of enterprise maintenance and changes in market supply and demand.