Polymeric MDI Market Analysis May 15 2026

On May 14, 2026, domestic polymeric MDI market prices were stable overall, individual grades showed slight adjustments. According to Sci99 data, PM200 in East China market remained at 18800-19000 yuan/ton, M20S at 18600-18700 yuan/ton. Most domestic manufacturers held prices, but some manufacturers were more active in selling, trader sentiment diverged seriously, downstream purchasing willingness was low. SUPPLY AND DEMAND On the supply side, overall sales strategies of domestic MDI manufacturers were not unified. Most manufacturers held prices, some manufacturers were more active in selling, leading to confused market quotations. Major manufacturers like Wanhua continued to hold prices, while some secondary traders sold actively due to cost pressure. On the demand side, overall downstream purchasing enthusiasm was not high, mainly maintained small orders. Main downstream sectors including refrigerators, freezers, automotive interiors, pipe insulation are all in weak season, downstream enterprises have low stocking willingness. REGIONAL PRICES East China: PM200 18800-19000 yuan/ton, M20S 18600-18700 yuan/ton, 44V20 18300-18700 yuan/ton (-150) North China: PM200 18800-19500 yuan/ton (+250), M20S 18600-18700 yuan/ton, 44V20 18600-18700 yuan/ton South China: PM200 18800-19000 yuan/ton, M20S 18600-18700 yuan/ton, 44V20 18300-18700 yuan/ton (-150) Central China: PM200 18800-19000 yuan/ton, M20S 18600-18700 yuan/ton, 44V20 18300-18700 yuan/ton (-150) MARKET FACTORS Supply: Domestic manufacturers sales strategies not unified, most held prices, some actively sold Demand: Downstream purchasing not high, mainly small orders, weak fundamentals Sentiment: Traders sentiment seriously divided, some held prices due to cost pressure, some sold at low prices due to sales pressure COST ANALYSIS MDI main raw materials are aniline and liquid ammonia, raw material prices running high, MDI production costs remain high. Wanhua 600,000 tons/year MDI plant operating at normal load, BASF Chongqing 400,000 tons/year MDI plant at about 60% load, overall market supply relatively stable. OUTLOOK Sci99 expects domestic polymeric MDI market to remain stable today. In short term, market will continue supply-demand game, large price fluctuations unlikely. Recommends: 1) Monitor major manufacturer sales strategy changes; 2) Monitor downstream end demand recovery; 3) Monitor raw material price trends Downstream enterprises can purchase at appropriate low levels, avoid high-level purchasing risks; traders should control inventory levels, prevent price decline risks. Source: Sci99.com - Polymeric MDI Market Morning Report (May 15, 2026)