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SunSirs: Rising Trend Slowed Down, the Domestic Maleic Anhydride Market Was on the Sidelines at a High Price Level
September 27 2020 08:10:44SunSirs(John)

Price trend

According to the data of SunSirs, the domestic maleic anhydride market has continued to rise. As of September 24, the average price of maleic anhydride remained at around 9,333 RMB/ton, a sharp increase of 34.62% from the beginning of the month, and an increase of 36.59% from the average price of 6,833 RMB/ton in the same period last month.

The maleic anhydride commodity index on September 23 was 86.67, an increase of 1.89 points from previous day, a decrease of 29.92% from the highest point in the cycle of 123.67 points (2017-12-26), and an increase of 69.34% from the lowest point of 51.18 points on April 14, 2020.

Analysis review   

At present, the high level of the domestic maleic anhydride market has stabilized. Before the National Day, traders have basically completed the stocking, the market trading atmosphere has slowed down, and the tight market supply has eased. At present, solid anhydride in Shandong is about 9,500 RMB/ton, Jiangsu is about 9,800 RMB/ton, Shanxi is about 9,400 RMB/ton, Hebei is about 9,400 RMB/ton, and South China is about 9,900 RMB/ton.

Recently, the pure benzene market has fluctuated mainly, and crude oil prices have recently fallen. The cost pressure of hydrogenated benzene companies has increased. The operating rate has dropped slightly this week. The sentiment of market price reduction is strong. At present, it is about 3,332 RMB/ton; the overall demand of downstream resin factories has increased, and the intention to stock up before the holiday is good. At present, the industry as a whole is stable and wait-and-see.

Market outlook

The maleic anhydride product analyst of SunSirs believes that the current growth of the maleic anhydride market has slowed down, and the price of maleic anhydride has been high and firm. With the completion of stocking by traders, the market supply gradually increases. Both the supply and demand sides are gambling, and the maleic anhydride market is expected to be strong at a high price level in the short term.

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