Phthalic anhydride market weakly stabilized in September 

According to the SunSirs Commodity Market Analysis System, as of September 30th, the price of OX based phthalic anhydride was 6,293.33 RMB/ton, a slight decrease of 0.11% from the price of 6,300 RMB/ton on September 1st. In September, OX prices rose, while industrial naphthalene prices fluctuated and stabilized, maintaining cost support for phthalic anhydride. Phthalic anhydride equipment loads slowly increased in September, leading to an increase in phthalic anhydride plant operating rates and increased phthalic anhydride supply. Downstream plasticizer prices fluctuated downward, with a slight increase in plasticizer plant operating rates. Phthalic anhydride demand was limited. Due to rising costs and limited demand support, phthalic anhydride prices weakly stabilized in September.

Phthalic anhydride costs were temporarily stable

On September 30, Sinopec quoted 6,400 RMB/ton for OX, up 1.59% from 6,300 RMB/ton on September 1. Industrial naphthalene prices fluctuated and stabilized, while OX prices rose, leading to higher phthalic anhydride costs. In September, phthalic anhydride equipment operating rates saw a slight increase, boosting the operating rate of phthalic anhydride plants and increasing phthalic anhydride supply.

Demand side: Downstream production was consolidating, and DOP prices were fluctuating and falling

According to the SunSirs commodity market analysis system, as of September 30, the price of DOP was 7,367.50 RMB/ton, a 2.92% decrease from the price of 7,589.17 RMB/ton on September 1. DOP prices fluctuated downward in September, with DOP companies operating at a moderate pace and a slight decline in operating rates.The demand for phthalic anhydride remained weak, and there was insufficient support for the increase in demand for phthalic anhydride.

Future outlook:

Analysts of phthalic anhydride product data from SunSirs believe that on the demand side, plasticizer manufacturers were consolidating at high capacity levels, with operating rates increasing slightly and plasticizer production increasing, but this was insufficient to support phthalic anhydride demand. On the cost side, rising OX prices and fluctuating naphthalene prices were contributing to rising phthalic anhydride costs. As for the future market, the cost support of phthalic anhydride still exists, the increase in supply and the insufficient demand support will lead to the expectation that the price of phthalic anhydride will stabilize weakly.

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