【10.10】Daily Review of Polyurethane Market Trends

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AA　Yesterday, the domestic adipic acid market remained strong at high levels. With expectations of suppliers pushing up prices in October, sellers holding inventory were reluctant to sell at low prices and instead offered bids at high levels, but market participants were resistant to such high prices; purchases were mainly driven by essential needs, resulting in weak trading activity at these high levels. It is expected that the domestic adipic acid market will continue to remain stable at high levels in the short term, with attention focused on any changes in demand. 　　As of yesterday’s close, in the East China region, the price for goods sourced from Shandong was 7700–7800 yuan per ton on an acceptance basis, while the price for goods sourced from Liaoning Chemical was 8000–8200 yuan per ton payable in cash ； In South China, the price for goods sourced from Shandong is 7,800–7,900 yuan per ton, subject to acceptance ； In North China, the price for goods from Shandong is 7,800 yuan per ton, payable upon acceptance. BDO: Yesterday, the domestic BDO market remained relatively stable, with negotiation prices staying flat. Following the return from the National Day holiday, there is a lack of positive market news; suppliers are offering **priced quotes, and transaction volume in the open market is low, with long-term orders being the dominant type. The enthusiasm for entering the market on the downstream side is moderate, with a strong tendency to wait and see. 　　Market prices are as follows: in the East China region, the price is 8,400–8,600 yuan per ton, while in the South China region it is 8,500–8,700 yuan per ton. PO: Yesterday, the domestic propylene oxide market remained stable. On the supply side, Wanhua Chemical’s propylene oxide production facility was shut down for maintenance, and other major manufacturers also plan to shut down their facilities for maintenance in October, which provides positive support for the market. However, the downstream polyether market is weak, putting pressure on propylene oxide prices. Additionally, due to the uncertainty surrounding safety inspections in Shandong in October, there is a balance between positive and negative factors affecting the propylene oxide market. It is expected that the market will remain stable in the short term, with further clarity expected as more information becomes available. 　　As of yesterday’s close, the spot price in North China was 13,600–13,800 yuan per ton, while the price for acceptance was 13,800–14,000 yuan per ton ； The price for cash delivery in the East China region is 14,000–14,100 yuan per ton, while the price for acceptance payment is 14,200–14,300 yuan per ton ； The spot price in South China is 13,700–13,800 yuan per ton; the spot price for delivery to Shandong in the Northeast region is 13,800 yuan per ton. PPG: Yesterday, the domestic polyether market experienced a slight decline. Due to cost pressures on the downstream side after the holiday, purchasing enthusiasm weakened. Polyether manufacturers received few new orders, and under the pressure of shipment demands, some manufacturers reduced their selling prices. In the North China market, negotiation prices dropped slightly. There was limited guidance regarding the short-term trend of cyclopropane, the raw material used in polyether production; in the absence of any positive factors, it is expected that the domestic polyether market will remain weak in the short term. 　　As of the close yesterday, the price of soft polyether was 14,000–14,300 yuan per ton in the North China region, 14,300–14,600 yuan per ton upon delivery in the East China region, and 14,800–15,200 yuan per ton in the South China region. Polymerized MDI: Yesterday, the domestic polymerized MDI market declined amid weak demand. Despite being in the usual peak season, there was no significant improvement in demand, and trading activity in the market was sluggish. Suppliers lacked confidence in future prospects and were reluctant to sell their goods, which led to further declines in prices. It is reported that Wanhua Chemical reduced the price of its polymerized MDI products by 1,000 yuan per ton in October. With mixed signals in the market, it is expected that the domestic polymerized MDI market will continue to decline in the short term. As of the close yesterday, the reference price for Wanhua’s product was 18,600–18,900 yuan per ton, while the reference price for products from Shanghai was 18,500–18,800 yuan per ton; prices from other sources were less common. TDI: Yesterday, prices in the domestic TDI market continued to rise. The selling price offered by Cangzhou Dahuahua increased by 6,000 yuan per ton over two days; supply remained limited. Supported by suppliers’ efforts to maintain high prices and control supply, there was a strong bullish atmosphere in the market due to tight availability of In stock Suppliers were reluctant to offer prices actively, and the few offers that were made saw significant increases. It is expected that the domestic TDI market will continue to show an upward trend in the short term. As of the close yesterday, in the East China region, there were limited offers for domestically produced goods at prices ranging from 29,000 to 30,000 yuan per ton, while in Shanghai, limited offers were available at prices between 30,500 and 32,000 yuan per ton. Source: ChinaPU