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SunSirs: The Market of Maleic Anhydride Fell in February

March 02 2020 14:19:32     SunSirs (John)

Price trend

According to the data of SunSirs, the average price of maleic anhydride as of February 28 was 7,366.67 RMB/ton (including tax), which was down 3.91% compared with 7,666.67 RMB/ton at the beginning of the month.

On February 28, the maleic anhydride commodity index was 69.40, which was the same as the previous day, 43.88% lower than the highest point 123.67 (December 26, 2017), and 23.55% higher than the lowest point 56.17 on February 16, 2016. (Note: cycle refers to 2011-09-01 to now)


Analysis review   

Product: In February, the maleic anhydride market was basically stable in the first ten days, mainly affected by the epidemic situation. Most maleic anhydride enterprises did not return to work. In the last ten days, with the resumption of work, the price of maleic anhydride continued to decline. At present, the trading volume of maleic anhydride is average, and the middlemen and downstream have strong wait-and-see mood.

Industrial chain: Crude oil fell in February. At present, the operation rate of downstream unsaturated resin is general and the demand is limited. According to the monitoring of SunSirs, at present, the hydrogenated benzene market is low, the enterprise's operating rate is lower than that in the early stage, the price difference between crude benzene and hydrogenated benzene is narrowed, the hydrogenated benzene enterprise's loss is increased, there are many maintenance plans in the near future, some units may reduce the operating rate, the enterprise's delivery pressure is large, and the on-site trading is weakened. At present, the price of hydrogenated benzene in East China is 5,750-5,800 RMB/ton. The price of n-butane fell sharply this month.


Market outlook

According to the maleic anhydride product analyst of SunSirs, at present, the trading volume of maleic anhydride is average, the upstream cost side support is weakened, and the downstream wait-and-see mood is strong. In addition, the resin industry chain is generally back to work, so it is expected that the maleic anhydride market will be weak in March.


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