SunSirs: Maleic Anhydride Market Prices Fell This Week (January 25-29)

Price trend

According to data from SunSirs, the domestic maleic anhydride market price dropped this week. As of January 29, the average price of maleic anhydride remained at around 8,333.33 RMB/ton, a decrease of 1.19% from the beginning of the week and an increase of 2.88% from the same period last month.

On January 29, the maleic anhydride commodity index was 78.50, a decrease of 1.57 points from previous day, a decrease of 36.52% from the cycle highest point of 123.67 points (2017-12-26), and an increase of 53.38% from the lowest point of 51.18 points on April 14, 2020. (Note: Period refers to 2011-09-01 to present)

Analysis review

This week, the domestic maleic anhydride market started low-load operation. Influenced by environmental protection and the Spring Festival factors, the downstream unsaturated resin entered a shutdown period, the operating rate declined, the resin market was weak and wait-and-see, and just needed to purchase mainly. As of the 29th, solid maleic anhydride in Shandong was about 7,800 RMB/ton, liquid maleic anhydride in Jiangsu was about 8,200 RMB/ton, solid maleic anhydride inShanxi was about 7,700 RMB/ton, solid maleic anhydride in Hebei was about 7,900 RMB/ton, and solid maleic anhydride in South China was about 8,200 RMB/ton.

On the upstream side, according to data from SunSirs’ bulk list, the price of pure benzene declined slightly this week. On the 25th, the average price of pure benzene was 4,484 RMB/ton; on the 29th, the average price of pure benzene was 4,456 RMB/ton, down 28 RMB/ton or 0.62% from last week. This week, the price of hydrogenated benzene in Shandong region remained stable at 4,075 RMB/ton. The price of n-butane stopped falling and rebounded.

Market outlook

The maleic anhydride product analyst of SunSirs believes that the current maleic anhydride market has a strong wait-and-see sentiment. The downstream demand is mainly purchased, terminal demand is low, and affected by the epidemic, logistics is limited. It is expected that the price will be adjusted in a short time.

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