Phthalic anhydride prices fluctuated and declined in November

According to the commodity market analysis system of SunSirs, as of November 7th, the price of OX based phthalic anhydride was 5,926.67 RMB/ton, a slight decrease of 0.39% compared to the price of 5,950 RMB/ton on November 1st. Phthalic anhydride continued its downward trend, with prices fluctuating slightly lower in November. The price of OX also fluctuated downwards, leading to lower costs. Phthalic anhydride producers maintained stable operating rates, resulting in ample supply. Downstream DOP producers slightly increased their operating rates, maintaining support for phthalic anhydride demand. Lower costs and supported demand led to a fluctuating decline in phthalic anhydride prices in November.

Phthalic anhydride costs decreased in November

On November 7th, Sinopec quoted 5,900 RMB/ton for phthalic anhydride, a decrease of 200 RMB/ton from 6,100 RMB/ton on November 1st, a drop of 3.28%. The decline in phthalic anhydride prices lowered phthalic anhydride costs. Phthalic anhydride plant operating rates increased slightly, resulting in ample phthalic anhydride supply. Lower costs increased downward pressure on phthalic anhydride prices.

On the demand side: DOP prices fluctuated upwards

According to the commodity market analysis system of SunSirs, as of November 7, the price of DOP was 7,025.83 RMB/ton, a slight increase of 0.24% compared to 7,009.16 RMB/ton on November 1. In November, the operating rate of DOP plasticizer enterprises increased slightly, leading to increased DOP production. Demand for phthalic anhydride remained supported, reducing downward pressure on phthalic anhydride prices.

Market outlook

According to analysts at SunSirs, regarding phthalic anhydride product data, on the demand side, plasticizer manufacturers had slightly increased the load on their DOP (dimethyl phthalate) equipment, leading to increased plasticizer production and continued support for phthalic anhydride demand. On the cost side, the price of OX and raw materials had fallen, reducing the cost of phthalic anhydride. Looking ahead, with declining costs and continued demand support, phthalic anhydride prices are expected to fluctuate downwards.

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