Price trend

According to the SunSirs commodity analysis system, domestic maleic anhydride prices continued their downward trend in July. As of July 31, the average quoted price of maleic anhydride was 5,862.50 RMB/ton (tax included), down 6.01% from 6,237.50 RMB/ton on July 1.

Analysis review

Supply: Maleic anhydride market supply was relatively ample in July, with prices retreating from a low. Factory-implemented prices fell, with distributors following suit. Downstream unsaturated resin demand for maleic anhydride maintained rigid, prompting cautious trading. Maleic anhydride shipments were average, with market conditions fluctuating downward. As of July 31, three production lines at Yantai Wanhua were operating at 70% capacity, while a unit at Hubei Zhongneng wasa experiencing a malfunction and is scheduled to resume operation in mid-to-early August. As of August 5, the ex-factory price for solid anhydride was around 5,400 RMB/ton, and for liquid anhydride around 4,950 RMB/ton.

Upstream: Benzene prices in Shandong Province experienced a volatile upward trend in July. Prices fluctuated downward in the early month, then rose and then fell in the middle of the month before rising sharply in late month. On July 1, the price was 5,942 RMB/ton; on July 30, it was 6,078.67 RMB/ton, a 2.3% increase from the beginning of the month.

In July, the domestic n-butane market price fluctuated upward. As of July 31, the price in Shandong was around 4,830 RMB/ton.

Downstream: In July, the unsaturated resin market was mainly weakly consolidated. The downward trend of upstream styrene and maleic anhydride prices provided limited support for the cost of unsaturated resin. As of July 31, 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 maleic anhydride's main downstream unsaturated resins will continue to maintain rigid demand for maleic anhydride in August; the maleic anhydride market is well supplied and there is no obvious positive market conditions. It is expected that the maleic anhydride market will continue to consolidate at a low level in August.

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