Price trend

According to the data of SunSirs, the average price of maleic anhydride as of December 31 was 6,925.00 RMB/ton (tax included), down 1.63% from 7,040.00 RMB/ton on December 1.

On December 31, the maleic anhydride commodity index was 65.24 points, down 0.51 points from the previous day, down 60.80% from the cycle's highest point of 166.43 points (2021-12-15), and up 27.47% from the lowest point of 51.18 points on April 14, 2020. (Note: Period refers to 2011-09-01 to now)

Analysis review

In December, the domestic benzene method maleic anhydride market continued to shut down. At the beginning of this month, Jiangsu and Zhejiang manufacturers successively entered the parking cycle, and the supply of major maleic anhydride plants decreased. However, the national logistics recovery was slow this month, the downstream market entry intention was low, and the transaction was limited, mainly on demand. As of 31, the solid maleic anhydride in Shandong was about 6,400 RMB/ton, that in Jiangsu was about 6,400 RMB/ton, there was no new price outflow from Shanxi and Hebei, and the solid maleic anhydride in South China was about 6,900 RMB/ton.

In December, the trend of international crude oil prices was volatile and downward. The Federal Reserve suggested that the interest rate increase was far from over and was not close to the end of monetary tightening. The persistent economic heat in the first half of December triggered the market's concern about the Federal Reserve's transition from "dove" to "eagle", which may disappoint the Federal Reserve's previous desire to slow down interest rate hikes. The market provided the basis for the Federal Reserve to curb inflation and maintain the path of monetary tightening, which triggered a general decline in risky assets. In addition, the overall economy was weak. The severe epidemic in Asia continued to drag down demand expectations. The outlook for energy demand was still not optimistic. Economic weakness depressed oil prices, which fell sharply in the first half of the month. In the second half of the month, in response to the Group of Seven's price ceiling on oil exports to Russia, Russia said it might cut oil production, tightening expectations to heat up the oil market. The news that the United States planned to store strategic oil reserves also brought good news to the oil market. In the second half of the month, international oil prices recovered their decline. On the whole, crude oil prices fell slightly.

In December, the market of hydrogenated benzene fluctuated. The ex factory price in North China was 6,566.67 RMB/ton at the beginning of the month and 6,566.67 RMB/ton at the end of the month. The price was flat. The pure benzene market as a whole was weak, the fundamentals were still weak, the market negotiations were general, and the price fluctuated in a narrow range.

Market outlook

Maleic anhydride product analysts from SunSirs believe that the domestic market for maleic anhydride declined slightly in December. At present, the domestic market for maleic anhydride suffers from serious deficit in benzene oxidation process, and the factory is shut down for maintenance. There are few circulating goods in the market; At present, some downstream resin plants have entered the shutdown period, with poor terminal demand and limited turnover, mainly on demand. Maleic anhydride market is expected to be sorted out weakly in the near future.

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