Price trend

According to the commodity analysis system of SunSirs, the overall domestic market for maleic anhydride rose in March. As of March 31st, the average quoted price of maleic anhydride was 6,790.00 RMB/ton (including tax), an increase of 3.19% from 6,580.00 RMB/ton on March 1st.

Analysis review

Supply side: In March, the spot supply of maleic anhydride in the market was tight, and downstream unsaturated resin manufacturers of maleic anhydride mainly maintained stable production. Due to the rise in raw material prices, unsaturated resins slightly increased, and the replenishment of maleic anhydride was mainly for urgent needs. As of March 31st, the production load of Wanhua in Yantai was 70%, and the load of Hengli maleic anhydride 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. As of March 31st, the factory price of solid anhydride in Shandong region was around 6,700 RMB/ton, and the factory price of liquid anhydride was around 6,400 RMB/ton..

Upstream: The market price of benzene has fallen. Since the beginning of the month, the price of benzene has almost been declining one by one. On March 1st, the price was 7,518 RMB/ton; On March 31st, the price was 6,634.67 RMB/ton, a decrease of 11.57% from the beginning of the month. In the short term, the market price of benzene will continue to fluctuate and consolidate.

In March, the international crude oil market fluctuated downwards, and the price of n-butane fluctuated upwards. As of March 31st, the price in Shandong was around 5,300-5,350 RMB/ton.

Downstream:  As of March 31st, unsaturated resin companies were mainly operating steadily, but due to the impact of rising raw material prices and subsequent declines, the unsaturated resin market remained stable, and there was a strong wait-and-see sentiment in the market.

Market outlook

Themaleic anhydride products analyst of SunSirs believes that the recent replenishment of downstream resin demand for maleic anhydride has ended, and new order signings were limited; As of March 31st,, the prices of the main factories producing maleic anhydride have fallen, and it is expected that the maleic anhydride market will mainly consolidate weakly in the near future.

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