Phthalic anhydride prices fluctuated and declined in December

According to the SunSirs' commodity price analysis system, as of December 22nd, the price of phthalic anhydride was 5,533.33 RMB/ton, a fluctuating decrease compared to the price of 5,750 RMB/ton on December 1st, representing a drop of 3.77%. In December, phthalic anhydride continued its downward trend. The price of the raw material, OX, decreased, leading to lower costs.  Phthalic anhydride manufacturers slowly increased their operating rates, resulting in ample supply. Downstream DOP manufacturers experienced a slight decrease in operating rates, weakening the demand for phthalic anhydride. The combination of lower costs, increased production, and weaker demand put greater downward pressure on phthalic anhydride prices, leading to a fluctuating decline in December.

The cost of phthalic anhydride decreased, and supply increased

On December 22nd, Sinopec's orthoxylene price was 5,700 RMB/ton, a decrease of 100 RMB/ton compared to the price of 5,800 RMB/ton on November 30th, a drop of 1.72%. The decline in OX prices led to a decrease in phthalic anhydride production costs. In December, the operating rate of phthalic anhydride plants remained stable at 70%, indicating high production levels and ample supply of phthalic anhydride. The increased supply coupled with lower costs intensified the downward pressure on phthalic anhydride prices.

Demand side: DOP prices fluctuated upwards in December

According to the SunSirs' commodity price analysis system, as of December 22nd, the price of DOP was 7,217.50 RMB/ton, a fluctuating increase of 2.24% compared to the price of 7,059.16 RMB/ton on December 1st. In December, the operating rate of plasticizer DOP manufacturers slightly decreased to around 60%, leading to reduced DOP production and weaker demand for phthalic anhydride, thus increasing downward pressure on phthalic anhydride prices.

Market Forecast:

According to SunSirs' phthalic anhydride product data analyst, on the demand side, the operating rate of DOP equipment in plasticizer companies decreased, leading to a decline in plasticizer production and weaker support for phthalic anhydride demand. On the cost side, the price of OX had fallen, resulting in lower raw material costs and a decrease in phthalic anhydride production costs. Looking ahead, with lower production costs, increased operating rates leading to higher supply, and weaker demand support, the price of phthalic anhydride is expected to decline.

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