Price trend

According to the SunSirs commodity analysis system, domestic maleic anhydride prices continued to decline in August. As of September 2, the average quoted price of maleic anhydride was 5,605 RMB/ton (tax included), down 4.39% from the price of 5,862.50 RMB/ton on August 1.

Analysis review

On the supply side, maleic anhydride prices continued to decline in mid-to-early August, primarily due to the export of commodity volumes in Northeast China, which increased market supply and led to cautious market operations. Furthermore, auction prices in Yantai continued to decline, leading to a corresponding decline in factory-implemented prices. In late August, Yantai Wanhua's auction was suspended, while auctions in East China initially saw increases before declines, with prices implemented by major maleic anhydride factories following suit. As of September 2, liquid anhydride from Hubei Zhongneng's plant was being sold to suppliers, and a total of 160,000 tons of plants in Shandong were scheduled for maintenance in early September. As of September 2nd, the ex-factory price of maleic anhydride in Shandong was around 5,300 RMB/ton for solid anhydride and 4,650 RMB/ton for liquid anhydride.

Upstream: Benzene prices in Shandong Province initially rose before falling in August. Prices rose in the first half of the month, but fell in the second half. On August 1, the price was 6,075.33 RMB/ton; on September 2, it was 5,975.33 RMB/ton, a 1.65% decrease from the beginning of the month.

In August, the domestic n-butane market price fluctuated downward. As of September 2, the price in Shandong was around 4,510 RMB/ton.

Downstream: In August, the unsaturated resin market was mainly consolidated. 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 consolidated.

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, has limited support for maleic anhydride costs; in addition, the weak market of the main downstream unsaturated resin has limited purchases of maleic anhydride; however, maleic anhydride companies in Shandong and North China have recently planned maintenance, which has had a certain boosting effect on the maleic anhydride market. As of September 2, some manufacturers have limited signing operations, and it is expected that the maleic anhydride market may rise slightly in the near future.

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