Price trend:

According to data from the SunSirs' commodity analysis system, the domestic maleic anhydride market continued to rise last week. As of November 27, the average market price of maleic anhydride produced by the n-butane oxidation method remained at 5,262.50 RMB/ton, an increase of 1.94% compared to 5,162.50 RMB/ton on November 23.

Market Analysis

On the supply side: Maleic anhydride prices continued to rise last week, with Wanhua's auction prices continuing to increase, supporting the maleic anhydride market. Major maleic anhydride manufacturers also followed suit with price increases. Furthermore, a planned shutdown of a Jiangsu plant further boosted the domestic maleic anhydride market, leading to a sustained price increase. Downstream unsaturated resin demand for maleic anhydride was limited, and the stockpiling atmosphere was generally weak. As of November 27th, the ex-factory price of solid maleic anhydride in Shandong was around 5,000 RMB/ton, and the ex-factory price of liquid maleic anhydride was around 4,850 RMB/ton.

Downstream: The unsaturated resin market was currently consolidating with a weak trend. Prices of raw materials such as styrene and maleic anhydride had risen, but the remaining raw materials were operating weakly, providing some cost support. Downstream procurement remained at just-in-time, offering limited support for unsaturated resins.

Market Forecast:

According to analysts at SunSirs, the demand for maleic anhydride was mainly driven by the need for unsaturated resins in the downstream market. With the gradual sale of liquid anhydride products from Central and South China, the supply of maleic anhydride may increase. It is expected that the maleic anhydride market will mainly consolidate in the near future.

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