Price trend
According to the commodity analysis system of SunSirs, the domestic maleic anhydride market continued to decline recently. As of July 29, the average market price of maleic anhydride produced by n-butane oxidation remained at 5,875 RMB/ton, down 3.29% from 6,075.00 RMB/ton on July 21.
Analysis review
On the supply side, maleic anhydride prices have been consolidating at a low level recently. Auction results in Yantai have been weak, leading to a slight decline in factory-issued prices. Downstream procurement was cautious, with limited new orders. As of July 29, three production lines at Yantai Wanhua were operating at 70% capacity, while a plant in Hubei Zhongneng was experiencing a malfunction. As of July 29, downstream unsaturated resin manufacturers were maintaining inventory to meet demand and were generally taking a wait-and-see approach. As of July 29th, the ex-factory price of maleic anhydride in Shandong Province was around 5,500 RMB/ton for solid maleic anhydride and 4,950 RMB/ton for liquid maleic anhydride.
On the upstream side: The price of n-butane has risen recently. As of July 29, the price in Shandong was around 4,800 RMB/ton.
On the downstream side: The recent unsaturated resin market has been stable with a downward trend. The decline in the upstream maleic anhydride and styrene prices had limited support for the cost of unsaturated resin. As of July 29, unsaturated resin was in the off-season, and downstream transactions were general, which provided limited support for unsaturated resin and the market was weak.
Future outlook:
Analysts of maleic anhydride products of SunSirs believe that the market conditions for maleic anhydride's main downstream unsaturated resins were weak, resulting in limited purchases of maleic anhydride. With the maleic anhydride market continuing to decline and some factories releasing news of closing orders or suspending shipments, it is expected that the maleic anhydride market will be dominated by consolidation in the near future.
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