Phthalic anhydride prices fluctuated and fell last week
According to the SunSirs Commodity Market Analysis System, as of October 20th, the price of OX based phthalic anhydride was 6,050 RMB/ton, a 3.87% decrease from the price of 6,293.33 RMB/ton on October 1st, and a 2.68% decrease from the price 6,216.67 RMB/ton on October 13th, the previous Monday. Last week, OX prices fell, and industrial naphthalene prices fluctuated downward, reducing the cost support for phthalic anhydride. Phthalic anhydride equipment load decreased slightly last week, and the operating rate of phthalic anhydride manufacturers decreased. Phthalic anhydride supply was sufficient. Downstream plasticizer prices fluctuated downward, and the operating rate of plasticizer manufacturers decreased, weakening demand support for phthalic anhydride. Last week, phthalic anhydride prices fluctuated downward, weakening demand support due to falling costs.
Phthalic anhydride costs fell last week
On October 20, Sinopec quoted 6,100 RMB/ton for OX, down 300 RMB/ton, or 4.69%, from 6,400 RMB/ton on October 1. Industrial naphthalene prices fluctuated downward, along with OX prices, which reduced phthalic anhydride costs and put downward pressure on phthalic anhydride prices. Last week, the operating load of phthalic anhydride equipment decreased slightly, and the operating rate of phthalic anhydride manufacturers declined, indicating sufficient phthalic anhydride supply.
Demand side: Downstream production decreased and DOP prices fluctuated downward
According to the SunSirs commodity market analysis system, as of October 20, the price of DOP was 7,209.17 RMB/ton, a 2.15% decrease from the October 1 price of 7,367.50 RMB/ton, and a 1.37% decrease from the October 13 price of 7,309.16 RMB/ton. DOP prices fluctuated downward last week, with DOP companies operating at less than 60% capacity, a slight decline in operating rates. This intensified weakness in phthalic anhydride demand, reduced demand support, and increased downward pressure on phthalic anhydride prices.
Market outlook
Analysts of phthalic anhydride product data at SunSirs believe that on the demand side, reduced workloads and production at plasticizer companies were contributing to a decline in phthalic anhydride demand. On the cost side, falling OX prices and fluctuating prices for industrial naphthalene were contributing to lower phthalic anhydride costs. In the future, the cost of phthalic anhydride will fall, and with the decline in demand support, the price of phthalic anhydride is expected to fluctuate and fall.
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