Xin Lang Cai Jing·2026-02-27 10:36Core Viewpoint - The domestic chemical market in China is experiencing a price increase in MDI and TDI following the traditional consumption peak after the Spring Festival, driven by multiple factors including overseas price hikes, domestic supply advantages, and downstream replenishment demand [1][7]. Group 1: MDI Market Dynamics - Major global players like Huntsman, Covestro, and BASF have initiated significant price increases for MDI products across key markets including North America and ASEAN, with Huntsman raising prices by $260/ton in the U.S. and $350/ton in Europe, Africa, and the Middle East [2][8]. - The domestic MDI market is seeing rising prices, with local prices reported at 13,900-14,000 CNY/ton in East China and 13,800-13,900 CNY/ton in Shanghai, influenced by strong market sentiment and potential supply constraints due to maintenance at a major Korean facility [3][9]. Group 2: TDI Market Trends - The TDI market is showing a clearer upward trend, with Wanhua Chemical raising its TDI distribution price to 15,700 CNY/ton, an increase of 1,200 CNY/ton, and direct sales prices reaching 18,000 CNY/ton, up by 2,000 CNY/ton [4][10]. - Supply constraints are further supporting TDI price increases, with BASF's TDI facility in Korea undergoing maintenance and Wanhua's facility temporarily shutting down, while downstream demand is expected to rise as businesses resume operations post-holiday [5][12]. Group 3: Overall Market Outlook - The price increases in both MDI and TDI markets are attributed to a combination of traditional price increase periods, overseas price hikes, supply reductions, and recovering downstream demand, indicating a gradual improvement in the global polyurethane industry's supply-demand balance [6][12].