SunSirs: The Maleic Anhydride Market Rebounded After Falling in April

Price trend

According to the monitoring data of SunSirs, the average price of maleic anhydride as of April 30 was 6,466.67 RMB/ton (both tax included), compared with 6,100.00 RMB/ton at the beginning of the month, the monthly increase or decrease was 6.01%.

On April 30, the maleic anhydride commodity index was 60.92, which was the same as the former day, down 50.74% from 123.67 (December 26, 2017), the highest point in the cycle, and up 19.03% from 51.18, the lowest point on April 14, 2020. (Note: cycle refers to 2011-09-01 to now)

Analysis review   

Product: In April, the market price of maleic anhydride rebounded after falling. At the beginning of the month, Yunnan Dawei returned to work and shipped maleic anhydride. In the middle of the month, the domestic maleic anhydride inventory was low, and the supply of solid anhydrite in the main production area was limited. 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 towards the future market.

Industrial chain: International crude oil fell sharply in April. At present, the downstream unsaturated resins are weakly sorted, the terminal demand is general, and the stocking mood before the holiday is general. According to the monitoring of SunSirs, the current stock of hydrogenated benzene enterprises is limited and the prices are firm. The mainstream quotation range of the hydrogenated benzene market in East China is 3,050-3,150 RMB/ton. Butane is generally stable and prices are relatively stable.

Market outlook

SunSirs analysts of maleic anhydride believe that: at present, the downstream demand of maleic anhydride is limited, mainly before the holiday procurement, and the market supply is limited. Affected by crude oil and terminal demand, the maleic anhydride market is expected to decline in May.

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