Phthalic anhydride prices fluctuated and fell 

According to the commodity market analysis system of SunSirs, as of November 24th, the price of OX based phthalic anhydride was 5,800 RMB/ton, a decrease of 1.58% compared to the price of 5,893.33 RMB/ton on November 14th. Phthalic anhydride continued its downward trend, with prices fluctuating and declining. OX prices remained stable, costs stabilized, and phthalic anhydride plant operating rates increased slightly, resulting in ample supply. Downstream DOP plant operating rates also increased slightly, maintaining demand support for phthalic anhydride. Decreasing costs and supported demand led to a fluctuating decline in phthalic anhydride prices last week.

Phthalic anhydride costs were stabilizing

On November 24th, Sinopec quoted 5,800 RMB/ton for phthalic anhydride, stabilizing from the price of 5,800 RMB/ton on November 14th. With phthalic anhydride prices temporarily stable, phthalic anhydride costs were also stabilizing. Phthalic anhydride plant operating rates had slightly increased, resulting in ample phthalic anhydride supply. While supply costs were stabilizing, downward pressure on phthalic anhydride prices remained.

Demand side: DOP price rebounded and rose

According to the commodity market analysis system of SunSirs, as of November 24, the price of DOP was 6,967.50 RMB/ton, a rebound of 1.22% compared to 6,883.34 RMB/ton on November 14. The increase in DOP costs led to the price rise. Last week, the operating rate of DOP plasticizer manufacturers increased slightly, resulting in increased DOP production. Demand for phthalic anhydride remained supported, reducing downward pressure on phthalic anhydride prices.

Market Forecast:

According to analysts at SunSirs, regarding phthalic anhydride product data, on the demand side, plasticizer manufacturers slightly increased the operating rate of their DOP (dimethyl phthalate) equipment, leading to increased plasticizer production and continued support for phthalic anhydride demand. On the cost side, OX prices were trmporarily stable, raw material prices were trending towards stability, and phthalic anhydride costs were also temporarily stable. Looking ahead, with phthalic anhydride costs remaining stable and increased operating rates coupled with weak demand, phthalic anhydride prices are expected to weakly stabilize.

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