SunSirs: Pre-holiday Trading Weakened and Maleic Anhydride Market Fell Sharply

Price trend

According to data from SunSirs, due to the weakening of the market before the holiday, the domestic maleic anhydride market fell sharply. As of September 30, the average price of maleic anhydride remained at around 9,000 RMB/ton, a sharp drop of 3.57% from September 27 and there is a significant increase of 29.81%% from the beginning of the month.

On September 29, the maleic anhydride commodity index was 85.41, a decrease of 2.51 points from yesterday, a 30.94% decrease from the highest point in the cycle of 123.67 points (2017-12-26), and an increase of 66.88% from the lowest point of 51.18 points on April 14, 2020.

Analysis review  

Recently, the domestic maleic anhydride market has weakened, the trade in the industry has turned sluggish, and the pre-holiday stocking is relatively high in the industry. Under the circumstance that the prices of manufacturers have not changed, some traders who hold the goods have cut prices to avoid risks. At present, the solid maleic anhydride in Shandong is about 8,800 RMB/ton, the solid maleic anhydride in Jiangsu is about 9,400 RMB/ton, the solid maleic anhydride in Shanxi is about 8,800 RMB/ton, the solid maleic anhydride in Hebei is about 8,800 RMB/ton, and the solid maleic anhydride in South China is about 9,200 RMB/ton.

The pre-holiday stocking of hydrogenated benzene has been basically completed, and the market is volatile. Crude oil and pure benzene are both ineffective. The positive support is limited. The market is currently around 3332 RMB/ton. The downstream resin industry is mainly waiting and watching. Traders in the industry have slowed down, and the transaction has been weak, mainly due to sideways.

Market outlook

The maleic anhydride product analyst of SunSirs believes that the current maleic anhydride market has stabilized after the decline. Under the situation of weak trading in the industry, some holders choose to reduce prices for hedging, and most of them are small orders. So the market is stable and weak in a short time.

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