According to the Commodity Market Analysis System of Shengyi Society, the overall TDI market in East China was weak and continued to decline in September. At the beginning of the month, the average TDI market price was 14700 yuan/ton. On September 29th, the TDI price was 13800 yuan/ton, a decrease of 6.12% during the month and a year-on-year increase of 5.75%.

The TDI market is not prosperous during the peak season in September, and it is difficult to change the weakness. At the beginning of the month, on-site trading was relatively quiet, and the supply of goods was relatively stable. Mainly driven by downstream demand, enter the market at low prices. Intermediary quotes follow the market trend, and the market lacks positive news to boost it. Under the guidance of buyers, the focus of TDI transactions continues to decline. In the middle of the month, there were frequent positive news from suppliers, with large northern factories offering a 20% discount on supply, resulting in tight supply. The guidance price for major factories in Shanghai has been raised to 14200 yuan/ton due to tight inventory. The news has boosted the confidence of industry players, and intermediary quotes have been raised. Downstream demand is dominant, with low enthusiasm for entering the market, accompanied by price increases, resulting in sluggish transactions. The market stabilized until the end of the month.
Supply side: The Yantai Wanhua TDI plant will be shut down for maintenance starting from August 19th, with an expected maintenance period of about 40 days.
Cost wise: The toluene market will experience a volatile decline in September 2025. From September 1st to 26th, the domestic toluene market price fell from 5420 yuan/ton to 5370 yuan/ton, with a price drop of 0.92% during the period. The downstream chemical and oil blending industry has a relatively stable demand, and procurement tends to be more rigid. The market trend is relatively stable, and the enthusiasm for downstream market entry is weak. The market lacks clear information guidance and there is little market volatility.
Market analysis shows that the TDI data analyst from Shengyi Society believes that the current decline in the TDI market is slowing down. As the end of the month approaches, close attention should be paid to the settlement prices of major companies. In the short term, the fundamentals are weak, and it is expected that the TDI market will experience narrow fluctuations in the short term.