The MDI Market Was Stable-to-Dropping First and Increased Greatly (Jun 30-Jul 6)

During June 30-July 6, 2017, the Chinese MDI market trended flat to decrease first and grew noticeably.

Up to July 6, the Chinese mainstream negotiation prices for MDI were in the range of RMB 23,800-24,300/mt, which were up RMB 650/mt or 2.78% W-O-W. The prices mentioned above were delivered prices or self-delivery price with VAT.

At the beginning of this week, the demand for MDI from downstream users was light and the MDI market was stable first and then declined. However, in midweek, part of Chinese factories stopped selling goods to the market. Also, the MDI market was tight and the inventory was limited. Therefore, the mainstream quotation increased noticeably and the downstream users bought on a need-to basis. The demand from downstream in East and North China was better, and it in South China was tepid.