Phthalic anhydride prices fluctuated and declined in November 

According to SunSirs' commodity price analysis system, as of November 30th, the price of phthalic anhydride was 5,766.67 RMB/ton, a fluctuating decrease compared to the price of 5,950 RMB/ton on November 1st, representing a drop of 3.08%. In November, phthalic anhydride continued its downward trend, with prices fluctuating downwards. The price of the raw material, OX, also decreased, leading to lower costs. Phthalic anhydride manufacturers slowly increased their operating rates, resulting in ample supply. Downstream DOP manufacturers slightly increased their operating loads, maintaining some demand for phthalic anhydride. However, the combination of lower costs and increased production put greater downward pressure on phthalic anhydride prices, leading to the fluctuating decline in November.

The cost of phthalic anhydride was decreasing, and supply was increasing

On November 30th, Sinopec's OX price was 5,800 RMB/ton, a decrease of 300 RMB/ton compared to the price of 6,100 RMB/ton on November 1st, representing a 4.92% drop. The decline in OX prices led to a decrease in phthalic anhydride production costs. In addition, the operating rate of phthalic anhydride production facilities increased to 70% in November, resulting in increased supply. With increased supply and decreased costs, downward pressure on phthalic anhydride prices remained.

Demand side: DOP prices fell first and then rose in Novembe

According to the commodity price analysis system of SunSirs, as of November 30th, the price of DOP was 7,009.16 RMB/ton, showing a fluctuating trend of initial decline followed by an increase compared to the price of 7,009.16 RMB/ton on November 1st. Compared to the price of 6,950.83 RMB/ton on November 17th, the price increased by 2.31%. In mid-to-late November, the cost of DOP increased, leading to a rebound in DOP prices. In November, the operating rate of DOP manufacturers increased slightly, resulting in increased DOP production. The demand for phthalic anhydride remained supportive, reducing the downward pressure on phthalic anhydride prices.

Market Forecast:

According to the data analyst for phthalic anhydride at SunSirs, on the demand side, the operating rates of DOP production facilities at plasticizer companies had increased, leading to higher plasticizer production and stronger support for phthalic anhydride demand. On the cost side, the price of o-xylene had fallen, resulting in lower raw material costs and a decrease in the cost of phthalic anhydride. Looking ahead, with lower production costs, increased operating rates leading to higher supply, and continued demand support, the price of phthalic anhydride is expected to experience a weak downward trend.

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