According to the Commodity Market Analysis System of Shengyi Society, the domestic aggregated MDI market first rose and then stabilized in December, with a sideways consolidation operation until the end of the month. From December 1st to 31st, the domestic market price of aggregated MDI increased from 18150 yuan/ton to 18183 yuan/ton, with a monthly price increase of 0.18% and a year-on-year price increase of 15.33%.

In the first half of the month, the price of domestic aggregated MDI rose, and mainstream factories in China were undergoing centralized maintenance. Under the expectation of tight supply, downstream actively entered the market and upstream actively pushed up prices.

In mid to late month, the aggregated MDI market will be organized and operated. Maintenance companies are driving one after another, downstream demand is following up, market inventory is low, and MDI prices remain stable at high levels.

On the supply side, the 350000 ton/year plant of Shanghai Huntsman is expected to undergo maintenance in mid November, which will last for about a month; The 600000 tons/year MDI plant of Shanghai Covestro is expected to undergo maintenance in mid to late November, lasting about 25 days; The 400000 tons/year MDI plant of BASF in Chongqing will begin maintenance on December 15th and is expected to be maintained for about a month.

On the cost side, raw material pure benzene: The domestic pure benzene market has fluctuated and fallen. As of December 31st, the benchmark price of pure benzene in Shengyi Society is 7267 yuan/ton. Raw material aniline: The domestic aniline market has fluctuated and risen. As of December 31st, the benchmark price of aniline in Shengyi Society was 9375 yuan/ton. Pure benzene has experienced a significant decline in the past six months, which has weakened support for polymer MDI.

On the demand side, downstream procurement is urgently needed, and low-priced goods are still available for transactions. As the end of the year approaches, there is a demand for stockpiling downstream.

Future forecast: The current inventory level in the MDI market is low and spot prices are tight, which will boost the MDI market. However, downstream demand is in a low season, and it is expected that the aggregated MDI market will consolidate and operate in the short term.