In the first half of the year, the TDI market experienced two rises and two declines, but the increase was far less than the decline. Overall, the price dropped from 40,000 yuan (ton price, the same below) to 26,500 yuan, with a cumulative decline of more than 13,000 yuan.
At the beginning of January, due to the tight inventory of the main manufacturers, more pre-delivery orders were delivered, and the supply was tight, which made the market rise, but the increase was only 500~600 yuan.
Since March, the TDI market has fallen sharply for a period of two months. In March, the market fell more than 6,000 yuan.
After the Spring Festival, the demand surface started to fall short of expectations, and the basic support was weak. In addition, the volume of Japan, South Korea and the United States came to Hong Kong in March, and the cost advantage had obvious impact on the market, which intensified the price competition of various brands. TDI factory shipment was blocked, inventory pressure Appearing, actively lowering the offer, driving the market to accelerate the decline.
In April, the TDI market continued to be dominated by short positions, and spot prices fell sharply, dropping a total of 8,500 yuan.
The factory shipments were not smooth, the inventory was under pressure, and the market was forced to lower the offer. The bearish sentiment continued to ferment, and some of the short-selling offers were ultra-low-cost, which accelerated the decline. After that, the decline further expanded and the short-selling situation was widespread.
In June, the domestic TDI market showed signs of rebound, especially in some South China traders, and reluctant sales, so that the transaction was concentrated. However, the rebound was short-lived. Environmental inspector 'reviewed' in various places, plus six seven During the rainy season in the southern region and the wheat harvest in the north, the downstream sponge factory was mostly in a semi-open state. The demand for TDI in the market was seriously insufficient, which led to the warming of bearish sentiment.