Price trend                               

According to the commodity analysis system of SunSirs, the overall domestic market for maleic anhydride saw a slight increase in August. As of August 31st, the average quoted price of maleic anhydride was 6,770.00 RMB/ton (including tax), an increase of 0.45% from 6,740.00 RMB/ton on August 1st.

Analysis review                      

In terms of supply: Yizheng Chemical Fiber would soon be put into operation, Qingdao Refining and Chemical started selling externally, and Yantai Wanhua planned to stop production from August 26th; In mid to early August, the prices of the main factories producing maleic anhydride increased overall, driving up prices for distributors; In late August, the supply of maleic anhydride in the market increased, and the prices of major factories fell slightly. As of August 31st, the ex factory price of solid anhydride in Shandong region was around 6,500 RMB/ton, and the ex factory price of liquid anhydride is around 5,700 RMB/ton.

Upstream: The overall price of pure benzene increased in August. On August 1st, the price was 8,438.00 RMB/ton; On August 31st, the price was 8,613.00 RMB/ton, up 2.07%, and the hydrogenated benzene market remained stable.

In August, the international crude oil market fluctuated and fell, and the domestic naphtha market as a whole fell. The price of n-butane market fluctuated, and as of August 31, the price in Shandong was around 5,300 RMB/ton.

Downstream: The overall price of unsaturated resin raw materials slightly fell in August, with weak cost support, and temporarily still in the off-season of consumption. Downstream production continued to be sluggish, with limited demand procurement and limited support for unsaturated resin. The overall market for unsaturated resin remained stable.

Market outlook

SunSirs’ maleic anhydride product analyst believes that the recent decline in the maleic anhydride market had led to cautious market operations; The downstream unsaturated resin market was mainly weak and stable, with limited procurement of maleic anhydride; As of the end of August, Wanhua Yantai had stopped production, Yizheng Chemical Fiber had resumed production, and Qingdao Refining and Chemical had increased production. It is expected that the maleic anhydride market will mainly consolidate in the near future.

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