Price trend

According to data from SunSirs, the domestic maleic anhydride market continued to rise this week. As of November 20, the average price of maleic anhydride by benzene hydrogenation method remained at around 9,600 RMB/ton, an increase of 4.73% from the beginning of the week and a decrease of 17.07% from the same period last month.

On November 20, the maleic anhydride commodity index was 90.43, which was the same as previous day. It was 26.88% lower than the cycle high of 123.67 points (2017-12-26), and 76.69% higher than the lowest point of 51.18 on April 14, 2020. (Note: Period refers to 2011-09-01 to present)

Analysis review

This week, the domestic maleic anhydride market was tight, and some companies sold goods through pre-sales, and companies intended to stabilize prices. The prices of downstream unsaturated resins were high and the cost pressure was greater. As of the 20th, the price of solid anhydride in Shandong was about 9,600 RMB/ton, the price of solid anhydride in Jiangsu was about 9,800 RMB/ton, the price of solid anhydride in Shanxi was about 10,300 RMB/ton, and the price of solid anhydride in Hebei was about 10,500 RMB/ton. The price of anhydride in South China was around 9,800 RMB/ton.

On the upstream side, it is difficult to destock pure benzene throughout the year, but the downstream profitability level is relatively good, supporting the price of pure benzene. It is expected that there will still be more styrene terminal depots next Monday, which will support the spot price, but the traditional off-season has arrived and downstream demand has weakened. The market price of hydrogenated benzene is at a high level, currently around 4,100 RMB/ton; the price of n-butane remains in the mid-to-high range.

Market outlook

The maleic anhydride product analyst of SunSirs believes that the maleic anhydride market is currently in a downward trend, and the market has a strong wait-and-see sentiment. The downstream resin has a downward price sentiment, and the price is expected to fall in a short time.

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