The current macro economy is still facing Greater downward pressure and no significant improvement in residents’ income expectations are the key factors restricting the release of demand for housing purchases. Coupled with the recent rising temperature, the property market has begun to enter the off-season. With the completion of the release of the backlog of housing demand in the early stage, the activity of the new housing and second-hand housing markets in major cities has generally declined since April, and the enthusiasm of home buyers has declined. Real estate sales continued to fall in May, 6Month-August is the traditional low season of the property market. The market’s expectations for real estate are still weak, and developers still maintain a cautious or even shrinking strategy.
5 In the month, the real estate development climate index (referred to as “National Housing Prosperity Index”) was 95.60.
Continuous downturn in real estate for polyurethane Downstream upholstered furniture, home appliances, automobiles, and construction had a significant impact, which was transmitted upward to the raw material market, and polyols and isocyanates fell across the board.
Soft Foam Industry
TDIThe market rises and then falls. 6In the middle of the month, Shanghai BASF’s TDI plant was shut down for maintenance, and Covestro’s price was raised. Gansu Yinguang’s products have not yet been put on the market. The supply side continues to be positive, and the industry is mainly reluctant to sell. Offers continue to rise, and the market price center of gravity rises steadily. However, as the price continued to rise, the downstream high-price resistance mentality increased, and the transaction volume was reduced, and the inventory was mainly consumed. In the latter part of the week, with the emergence of differences in factory policies and the impact of low-priced futures, the long-short game in the market became more intense, the mentality of the industry changed, the intention to ship increased, and the price stepped back.
soft foam The polyether market digested and consolidated. The demand for the sponge industry is light in the off-season; the automobile market is recovering moderately, and the export contribution is significant; the waterproof runway is limited; the demand for curing agents is poor, and the downstream purchase intentions before and after the Dragon Boat Festival are general. Before the Dragon Boat Festival, cyclopropane quickly fell to 9200 -9300 yuan / ton, the cost of soft foam polyether loosened. Downstream companies continued to digest inventory under the bearish expectation, with few inquiries, and the new price of polyether fell. Then the downstream made a small increase in bargain hunting performance, and the overall sustainability was not strong , cyclopropane took advantage of the trend and rose to 9400-9500 yuan / ton, and polyether rose under pressure. During the Dragon Boat Festival, the shipment of cyclopropylene was not smooth, and the inventory was under pressure. The new price quickly fell to 9300-9400 yuan / ton again. New prices continue to fall.
hard foam industry
polymerized MDI The market fell in a narrow range. Covestro’s weekly guide price has been increased month-on-month, and the overall supply of suppliers is controlled. Before and after the Dragon Boat Festival holiday, the agent’s offer was high to maintain stability, and some traders in the secondary market had a stronger intention to take profits. However, affected by the macroeconomic downturn in construction investment/downstream terminal consumption, superimposed on the Dragon Boat Festival holiday, and high temperature/rainy weather in some areas, the overall inquiry of hard foam downstream manufacturers is light, the raw material inventory is slowly consumed, and a small amount of just-needed orders are selected. Negotiations and buying orders with low real orders.
The hard foam polyether market is negotiating a drop. Before the Dragon Boat Festival, the rigid foam polyether market rebounded rapidly again. After a short period of consolidation, cyclopropane fell rapidly. With the price down, the pressure of polyether delivery eased and the short-term holiday was approaching. , Cyclopropylene and polyether also rebounded. During the Dragon Boat Festival, the inventory pressure of cyclopropane, the raw material, was high, and the new price fell back to 9300-9400 yuan/ton. The cost support of rigid polyether was loose, and the market was flat, and polyether manufacturers continued to fall.
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