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SunSirs: The Maleic Anhydride Market Fell Sharply in March

April 01 2020 13:29:06     SunSirs (John)

Price trend

According to the data of SunSirs, as of March 31, the average asking price of maleic anhydride was 6,100.00 RMB/ton (both inclusive of tax), which was -17.19% month-on-month compared with 7,366.67 RMB/ton at the beginning of the month.

The maleic anhydride commodity index on March 30 was 61.70, a decrease of 2.83 points from the previous day, and a decrease of 50.11% from the highest point of the cycle at 123.67 (2017-12-26), an increase of 9.85% from the lowest point of February 16, 2016 at 56.17. (Note: Period refers to 2011-09-01 to now)


Analysis review   

Product: In March, the market price of maleic anhydride continued to decline. In March, maleic anhydride enterprises resumed work one after another, and the market supply increased, but the demand recovered slowly, and the price of maleic anhydride continued to decline. At present, the trading volume of maleic anhydride is general, and the demand for procurement is the main one. The middlemen and the downstream have a strong wait-and-see mood for the future.

Industrial chain: International crude oil continued to fall sharply in March. At present, the downstream unsaturated resin production is slow to resume and the terminal demand is average. According to the monitoring of business association, at present, the operating rate of hydrogenated benzene enterprises has declined significantly, some units have been shut down, and the price of the whole benzol industry chain has fallen sharply. At present, the price of hydrogenated benzene in East China is 2,600-2,700 RMB/ton. The supply of n-butane is limited, and it is stable at present, and it is expected to decline in the short term.


Market outlook

According to the maleic anhydride product analyst of SunSirs, at present, the maleic anhydride market is expected to decline in April due to the limited trading volume, weak upstream cost support, limited downstream demand, rigid demand for procurement, and slow resumption of the resin industry chain.


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