Price trend

According to the commodity analysis system of SunSirs, the overall domestic maleic anhydride market has been on the rise this week. As of March 27th, the average market price of n-butane oxidation maleic anhydride remained at 6,790 RMB/ton, an increase of 1.80% from the price of 6,670 RMB/ton on March 21st. 

Analysis review

On the supply side: The rise in the price of maleic anhydride this week was mainly due to the suspension of bidding in Yantai, factories without signing pressure, and tight market supply; As of March 27th, the production load of Wanhua in Yantai was 70%, and the load of Hengli maleic anhydride's two lines was 80%. The export volume of liquid anhydride has increased, and the increase in spot supply in the maleic anhydride market was limited. The downstream unsaturated resin manufacturers of maleic anhydride were mainly operating steadily. Due to the rise in raw material prices and the rise in unsaturated resin prices, the replenishment of maleic anhydride was mainly for urgent needs. As of March 27th, the factory price of solid anhydride in Shandong region was around 7,000 RMB/ton, and the factory price of liquid anhydride was around 6,700 RMB/ton.

Upstream: Recently, the n-butane market has fallen first and then risen. As of March 27th, the price in Shandong was around 5,300-5,350 RMB/ton.

Downstream: As of March 27th, unsaturated resin enterprises were mainly operating steadily, but due to the rise in raw material prices, the unsaturated resin market was on the rise. The downstream demand for unsaturated resin was limited, and there was a strong wait-and-see sentiment in the market.

Market outlook

The maleic anhydride products analyst of SunSirs' believes that the main downstream resin demand replenishment for maleic anhydride has ended this week, and new order signings were limited;  As of March 27th, Yantai Wanhua has resumed bidding, and the increase in spot supply in the maleic anhydride market was limited. It is expected that the maleic anhydride market will mainly consolidate weakly in the near future.

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