中信证券：MDI和TDI价格上行 关注龙头业绩弹性

Core Viewpoint - The report from CITIC Securities indicates that Hunstman’s overseas MDI facility has unexpectedly shut down, combined with major domestic companies planning maintenance for MDI and TDI, leading to a significant short-term tightening of supply in the MDI and TDI industries. [1] Industry Summary - The industry is experiencing a notable reduction in supply due to unexpected shutdowns and planned maintenance by key players, resulting in a historical low inventory level. [1] - Product prices have begun to rise and are expected to have further upward potential. [1] Company Summary - Leading companies in the industry are expected to benefit significantly from price increases due to their superior cost control, proprietary technology, and ongoing expansion, which will provide substantial earnings elasticity. [1] - The long-term outlook for the industry shows stable demand and high concentration, solidifying the advantages of top-tier companies. [1]