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SunSirs: The Price of Maleic Anhydride Fell Overall in June
July 01 2021 14:15:29SunSirs(John)

Price trend

According to data from SunSirs, as of June 30, the average price of maleic anhydride was 9,650.00 RMB/ton (both including tax), a decrease of 1.53% from the 9,800.00 RMB/ton on June 1.

On June 29, the maleic anhydride commodity index was 89.96, the same as previous day, a decrease of 27.26% from the highest point of the cycle at 123.67 points (2017-12-26), and an increase of 75.77% from the lowest point of 51.18 on April 14, 2020. (Note: Period refers to 2011-09-01 to present)

Analysis review

The market price of maleic anhydride dropped overall in June. International crude oil prices fluctuated upward, causing domestic chemical prices to rise. The operating rate of downstream unsaturated resins was lowered, and the resin market had a strong wait-and-see sentiment, mainly based on just-needed purchases. As of the 30th, the price of solid maleic anhydride in Shandong was about 9,800 RMB/ton, the price of liquid maleic anhydride in Jiangsu was about 9,700 RMB/ton, the price of solid maleic anhydride in Shanxi was about 9,800 RMB/ton, the price of solid maleic anhydride in Hebei was 9,800 RMB/ton, and the price of solid maleic anhydride in South China was around 9,800 RMB/ton.

International crude oil fluctuated upward, the economy of many international regions gradually recovered, and the vaccination in the United States continued to increase, and the demand for crude oil in the United States ushered in a peak season. The expectation of a recovery in demand in Europe and the United States boosted the crude oil market, and the OPEC+ alliance continued to insist on the gradual restoration of supply from June to July, offsetting the risk that a consensus on the US-Iran nuclear agreement could lead to increased supply.

Affected by environmental factors, the operating rate of downstream unsaturated resins was lowered, and the resin market had a strong wait-and-see sentiment, mainly based on just-needed purchases.

According to the monitoring of SunSirs, the overall operating rate of hydrogenated benzene enterprises in June was around 80%, which increased from the previous month. Most of the installations started normally, and some of the previously suspended installations have plans to restart. The price of hydrogenated benzene was at a high level. As of June 30, the price of hydrogenated benzene in North China was 7,950.00 RMB/ton. Corporate profits improved and production and sales were active. The cost of starting and stopping the production of hydrogenated benzene is lower than that of producing pure benzene, and most manufacturers schedule production based on profitability. The price of n-butane Shandong was 4,200 RMB/ton.

Market outlook

The maleic anhydride product analyst of SunSirs believes that the rising international crude oil prices will support the cost of the maleic anhydride market. Although the downstream resin demand continues to be weak, bBut there is support from just-needed downstream, the price trend of maleic anhydride is expected to rebound in the near future.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.

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