SunSirs: Phthalic Anhydride (PA) Price Has Dropped to A New Low For The Year

The domestic prices of phthalic anhydride continued to fall. Up to March 12, phthalic anhydride quotation is 5487.5 RMB/ton. Since 2020 the price of phthalic anhydride significantly is lower 12.9%, year-on-year decline of 19.7%. The recent domestic prices of phthalic anhydride fell endlessly, and the price of phthalic anhydride market fell to a new low in the year.

Recent domestic benzene anhydride market prices continue to fall. This is because the price of crude oil tumbled several days ago, benzene anhydride’s upstream raw material prices tumbled 600 RMB/ton. In addition, combined with recent downstream terminal still not fully recovered, part of benzene anhydride manufacturer still has inventor. The condition of shipments is poorer. Therefore, affected by raw material prices sharply lower, domestic benzene anhydride market prices fall.

On the other hand, in east China, the market price of phthalic anhydride fell. On the one hand, the downstream factory shutdown more and the factory inventory pressure increased. In addition, high-end transaction blocked. Recently manufacturers inventory has increased. The price trend of the phthalic anhydride market fell. 

The mainstream of the supply of adjacent method in east China in 5,300-5500 RMB/ton, naphthalene method in 5,000-5200 RMB/ton. North China area phthalic anhydride market mainstream quotation in 5300-5500 RMB/ton, the price of most of the field manufacturers fell. The downstream of purchase on demand and wait-and-see mentality is stronger. The market price of phthalic anhydride significantly lower.

Recent domestic benzene anhydride upstream products development of Sinopec’s executive-price fell to 5000 RMB/ton. 

As for port price, port area import-adjacent benzene prices fell slightly. Recent port adjacent benzene market was in weakness. Port inventories increased, and adjacent benzene outside dish price is lower. The actual price will be subject to negotiation with real single elaborated. Affected by upstream raw material prices decline, PA market prices continue to fall.

The price of the downstream DOP raw material isooctanol fell unsteadily. The cost of DOP raw material decreased with fluctuation. The DOP enterprises operated under low load. The recent logistics transportation was limited, the delivery of goods was difficult, and the inventory of DOP manufacturers increased. The price of DOP fell, the customers' purchasing enthusiasm was poor, the price of downstream PVC fell, and the equipment of PVC enterprises started at a low level. DOP market mainstream quotation is 6,700-7,000 RMB/ton. The market plasticizer has a small number of transactions, indicating that the downstream demand is not good. The market price of phthalic anhydride significantly lower.

In the later period, the crude oil price in the short term did not significantly go up trend. Coupled with the end of the peak season of the downstream plasticizer industry, the upstream demand for phthalic anhydride is limited. In addition to that, coupled with the impact of national health events, it is expected that the later period of the phthalic anhydride market price rise pressure, will still be lower.

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