tdi quotations were bullish last week. major factories announced march list price successively with average price at rmb 24000/ton, up by rmb 1000/ton compared to february. tdi market price rebounded supported by contract price.
mmdi price was also supported by march list prices. traders in some regions tried to lift price in small range. yantai wanhua up-adjusts by rmb 300/ton. demands for mmdi increased after lantern festival. supported by cost and list price, mmdi price is going to keep stable within a short period.
pmdi price was firmed at high level. manufacturers lift list price significantly in march. pmdi settlement price from basf was heard at rmb 20600/ton, up by rmb 800/ton compared to february. list and settlement price from yantai wanhua was reported at rmb 19800/ton, up by rmb 600/ton. npu nanyou-based mdi facilities (70 ktpa and 130 ktpa) are going to under maintenance from may and june while its 200ktpa facility will be overhauled during september and october. insiders still need to focus on import sources and real demand growth to figure out whether tdi and mdi prices will keep increasing. it is predicted that price will keep stable at high level within a short period.
approaching production season promotes downstream plants gradually step into recovery path with restocking need rising, as a result that chemical industry is successively warming up. insiders hold the views that up-going chemical products would see positive performance. as a vital raw material for pu resin, chemical fiber and copper-clad plate, 70% dmf is used for polyurethane resin production. since lantern festival downstream resin and coatings industries had started resumption, operation rates n spandex sector even closed to 90%. supported by good condition of supply/demand and low inventory, some leading dmf manufacturers upward adjusted quotations by rmb 200-300/ton in succession especially when market would enter peak season.
dmf quotations were mainly heard around rmb 5900-6000/ton in south china while rmb 6000-6100/ton in east china. however, downstream resin and coatings plants are still under operation rates lifting, and most purchase materials in a hand-to-mouth basis.
hualu hengsheng raises prices by rmb 300/ton to rm 5700/ton and keeps two production line in running state, and plans to implement maintenances in near term. zhejiang jiangshan 180 ktpa facility was shut down on january 13 and restarted on january 31, ex-works price is hovering at rmb 5700-5800/ton and the producer plans for price increase in march.
methanol market has been in uptrend since new year holiday and is expected to turn better in terms of demand although supply/demand pattern is not so satisfying in near term. traders and manufacturers now are firming spot prices and would push price up further in late period.
generally speaking, as economy is recovering gradually and the traditional busy season is on its way to come, insiders are positive about dmf market. traditionally, dmf price is bullish in march and april. this round of up-adjustment suits the law.