Price trend

According to the commodity analysis system of SunSirs, the domestic market for maleic anhydride rose in December and then fell back, resulting in an overall increase in prices. As of January 3rd, the average quoted price of maleic anhydride was 6,460.00 RMB/ton (including tax), an increase of 3.19% compared to 6,260.00 RMB/ton on December 1st.

Analysis review

On the supply side: In mid December, 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 main factory price of maleic anhydride increased by 1,000 RMB/ton, and dealer quotations also increased. In late Januay , Yantai Wanhua resumed production, and the supply of maleic anhydride in the market increased. The raw material n-butane market fell, and downstream market operations were cautious, with a strong wait-and-see sentiment. The prices of the main maleic anhydride factories fell, and dealer quotes followed suit. As of January 3rd, the ex factory price of solid anhydride in Shandong region was around 6,100 RMB/ton, and the ex factory price of liquid anhydride is around 5,700 RMB/ton.

Upstream: The overall price of decreased in December. The inventory of ports in East China was accumulating, and prices continue to be weak. Shandong's local refining transactions were sluggish, and market prices have decreased. It is expected that the benzene market will be volatile to be weaker in the short term.

The international crude oil market fluctuated and rose in December, with n-butane market prices first rising and then falling. As of January 3, the price in Shandong was around 5,150-5,200 RMB/ton.

Downstream: The unsaturated resin market in December was affected by fluctuations in the raw material maleic anhydride market, and as the end of the year approached, some unsaturated resin companies had plans to halt prices. Downstream of unsaturated resin purchased only on demand, which limited support for unsaturated resin. As of January 3rd, unsaturated resin mainly relied on demand for maleic anhydride.

Market outlook

The maleic anhydride products analyst of SunSirs believes that downstream unsaturated resins maintained a strong demand and provided limited support for the maleic anhydride market; The upstream n-butane market of maleic anhydride has slightly increased, but the transaction volume of maleic anhydride was temporarily average, and the market had a strong wait-and-see sentiment. It is expected that the maleic anhydride market will mainly consolidate in a narrow range in the near future.

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