According to the Commodity Market Analysis System of Shengyi Society, from October 20th to 24th, the domestic aggregated MDI market first fell and then rose, with a slight overall decline. The average price at the beginning of the week was 14333 yuan/ton, and the average price at the end of the week was 14300 yuan/ton, a decrease of 0.23% during the cycle and a year-on-year decrease of 21.79%. The performance of the MDI aggregation market during the week was average, with mainstream manufacturers lowering prices and traders adjusting their quotes accordingly. Subsequently, the maintenance plan of major factories was announced, and the prices of traders tentatively increased, leading to an increase in inquiries and a slight improvement in the trading atmosphere.

On the supply side, the 200000 ton/year MDI in Jinhu, South Korea will undergo maintenance in early September, with a duration of 20-30 days. Ningbo has a maintenance plan in November, and the rest of the equipment is running smoothly.
On the cost side, the main port of pure benzene in East China maintains a pace of destocking, and the market sentiment is weak. Combined with weak downstream growth and intensified losses, coupled with insufficient new orders at the terminal, secondary downstream inventory remains high and difficult to reduce, resulting in significant resistance to price transmission. The pure benzene market continues to weaken and decline.
On the demand side, the downstream market is not prosperous during the peak season, and the market situation has not improved significantly. With weak fundamentals, the aggregated MDI market is difficult to pick up.
Future forecast: After a slight increase, the aggregated MDI market will return to a consolidation state, with weak demand and insufficient support from the news side. In the short term, the aggregated MDI market will maintain a weak trend