Price trend
According to the commodity analysis system of SunSirs, the domestic maleic anhydride market has continued to decline recently. As of September 1, the average market price of maleic anhydride produced by n-butane oxidation remained at 5,605.00 RMB/ton, down 1.32% from the price of 5,680.00 RMB/ton on August 25.
Analysis review
On the supply side, maleic anhydride prices have continued to decline slightly recently, with Wanhua's East China market experiencing a slight decline. Major maleic anhydride manufacturers also saw prices decline accordingly. As of September 1, Hubei Zhongneng's liquid anhydride production facility was selling to suppliers, and a total of 160,000 tons of production capacity was scheduled for maintenance in Shandong Province in early September. Maleic anhydride's downstream unsaturated resin manufacturers ware temporarily maintaining inventory to meet demand and adopting a wait-and-see approach. As of September 1st, the ex-factory price of maleic anhydride in Shandong Province was around 5,300 RMB/ton for solid anhydride and 4,650 RMB/ton for liquid anhydride.
On the upstream side: The price of n-butane has fallen sharply recently. As of September 1, the price in Shandong was around 4,510 RMB/ton.
Downstream: The unsaturated resin market was weak and stable. The downstream demand for unsaturated resin was limited, and the upstream raw material market was weak, which provided limited support for unsaturated resin. The market was weak and consolidating.
Market outlook
Analysts of maleic anhydride products from SunSirs believe that the recent decline in the price of n-butane, the upstream of maleic anhydride, had limited support for the cost of maleic anhydride; in addition, the weak market of the main downstream unsaturated resin had limited purchases of maleic anhydride; but maleic anhydride companies in Shandong and North China recently planned maintenance, which had a certain boosting effect on the maleic anhydride market. It is expected that the maleic anhydride market may rise slightly in the near future.
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