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SunSirs: Domestic Maleic Anhydride Market Hit 2024 Low in September
October 09 2024 15:13:04SunSirs(John)

Price trend

According to the Commodity Analysis System of SunSirs, the domestic maleic anhydride market continued to decline in September, hitting a new low for 2024. As of September 30th, the average quoted price of maleic anhydride was 6,530.00 RMB/ton (including tax), a decrease of 3.55% from 6,770.00 RMB/ton on September 1st.

Analysis review

Supply side: Yantai Wanhua was about to be sold out, while Huizhou Yuxin was producing normally; In September, the prices of the main factories producing maleic anhydride fell, followed by a decrease in dealer quotes. New orders were mainly driven by urgent needs, and the market showed a strong wait-and-see attitude. As of September 30th, the ex factory price of solid maleic anhydride in Shandong region was around 6,050 RMB/ton, and the ex factory price of liquid anhydride was around 5,600 RMB/ton.

Upstream: The overall price of benzene decreased in September. On September 1st, the price was 8,613.00 RMB/ton; On September 30th, the price was 8,183.00 RMB/ton, up 4.99%, and the hydrogenated benzene market remained stable.

In September, the international crude oil market fluctuated and fell, and the domestic naphtha market as a whole fell. The price of n-butane fluctuated and rose, and as of September 30th, the price in Shandong was around 5,350 RMB/ton.

Downstream: The overall price of unsaturated resin raw materials fell in September, with weak cost support. The recovery of downstream demand for unsaturated resin was relatively average, and there was no significant improvement on the demand side. Limited procurement of essential needs had limited support for unsaturated resin, and the overall market for unsaturated resin remained stable.

Market outlook

The analyst of SunSirs' maleic anhydride products believes that the limited stock of unsaturated resin before the National Day holiday provided insufficient support for the maleic anhydride market. Some maleic anhydride manufacturers had plans to reduce production or load during the National Day holiday; Unsaturated resins will resume production one after another after the holiday, and the demand for maleic anhydride may increase. In addition, with the rise in the upstream n-butane market of maleic anhydride and cost support, it is expected that the maleic anhydride market may rise after the holiday.

If you have any enquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.

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