Price trend

According to the commodity analysis system of SunSirs, the domestic maleic anhydride market first rose and then fell this week. As of December 22, the average market price of n-butane oxidation maleic anhydride remained at 6,560 RMB/ton, an increase of 2.82% from 6,380 RMB/ton on December 16.

Analysis review

On the supply side: Last weekend, the Wanhua maleic anhydride production plant in Yantai unexpectedly shut down, causing a significant decline in the supply of liquid anhydride in the market. At the beginning of the week, the price of the main maleic anhydride factory increased by 1,000 RMB/ton, and dealer quotations also increased. On weekends, factories tended to execute early week orders, while downstream customers maintained a wait-and-see attitude. New orders were limited, and the market price of maleic anhydride had fallen slightly. As of December 22nd, the ex factory price of solid anhydride in Shandong region was around 6,900 RMB/ton, and the ex factory price of liquid anhydride is around 6,700 RMB/ton.

Upstream: This week, the international crude oil market fluctuated downward, and the overall n-butane market slightly declined. As of December 22, the price in Shandong was around 5,200 RMB/ton.

Downstream: The unsaturated resin market had been steadily rising this week, mainly due to the rise in the market for unsaturated resin raw material maleic anhydride, which had put pressure on the cost of unsaturated resin. However, the downstream demand for unsaturated resin was mainly for procurement, and the support for unsaturated resin was limited. Currently, unsaturated resin mainly relies on demand for maleic anhydride.

Market outlook

The analyst of SunSirs' maleic anhydride products believes that downstream unsaturated resins maintained a strong demand and provide limited support for the maleic anhydride market; As of December 22th,, the high level of maleic anhydride was under pressure, and downstream companies were cautious about chasing higher prices. The market was currently paying attention to the resumption of work in maleic anhydride factories, and it is expected that the recent narrow consolidation of the maleic anhydride market will be the main focus.

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