Price trend
According to data from the SunSirs' commodity analysis system, the domestic maleic anhydride market has recently seen a slight decline. As of November 4, the average market price of maleic anhydride produced by the n-butane oxidation method remained at 5,325 RMB/ton, a decrease of 0.93% compared to 5,375 RMB/ton on October 27.
Price Influencing Factors:
On the supply side: Maleic anhydride prices have recently declined. The Wanhua Yantai auction failed to sell, and the Wanhua East China auction was not fully completed. Coupled with the price drop, this provided limited support to the maleic anhydride market, and major maleic anhydride manufacturers followed suit with price declines. As of November 4, some maleic anhydride production facilities in Shandong resumed production, and new facilities in Fujian had plans to sell externally, increasing market supply and providing limited support to the maleic anhydride market. As of November 4th, the ex-factory price of solid maleic anhydride in Shandong was around 4,900 RMB/ton, and the ex-factory price of liquid maleic anhydride was around 4,650 RMB/ton.
Upstream: The recent continuous rise in n-butane prices supported the maleic anhydride market. As of November 4, the price in Shandong was around 4,420 RMB/ton.
Downstream: The recent decline in the price of unsaturated resin raw materials had provided limited support for the resin market, which had fallen to its lowest point of the year.
Market outlook
According to analysts at SunSirs, maleic anhydride production facilities in Shandong resumed operations, and new facilities in Fujian had plans to sell their products, leading to increased market supply and cautious market behavior. Furthermore, the weak performance of unsaturated resins, a major downstream product of maleic anhydride, provided limited support for the market. Therefore, the maleic anhydride market is expected to decline in the near future.
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