Phthalic anhydride prices rebounded and rose

According to the commodity price analysis system of SunSirs, as of December 25th, the price of OX method phthalic anhydride was 5,633.33 RMB/ton, a rebound from the price of 5,533.33 RMB/ton on December 22nd, representing an increase of 1.81%. Last week, phthalic anhydride prices rebounded after a period of decline. The price of the raw material, OX, remained stable, leading to stable costs.  Phthalic anhydride manufacturers increased their operating rates, resulting in ample supply. Downstream DOP manufacturers also saw a slight increase in operating rates, providing greater support for phthalic anhydride demand. The combination of cost support, increased production, and stronger demand reduced the downward pressure on phthalic anhydride prices.

Phthalic anhydride costs decreased, supply increased

On December 25th, Sinopec's OX price was 5,700 RMB/ton, and the price of OX remained stable, leading to stable phthalic anhydride costs. Last week, the operating rate of phthalic anhydride production facilities increased to 75%, resulting in increased production and ample supply of phthalic anhydride. With increased supply, downward pressure on phthalic anhydride prices persisted.

Demand side: DOP prices fluctuated upwards

According to SunSirs' commodity price analysis system, as of December 25th, the price of DOP was 7,217.50 RMB/ton, a fluctuating increase of 0.81% compared to the price of 7,159.16 RMB/ton on December 21st. Last week, the operating rate of plasticizer DOP manufacturers increased slightly, rising to 65%, leading to increased DOP production. The increased demand for phthalic anhydride provided greater support, reducing downward pressure on phthalic anhydride prices and increasing upward support.

Market Outlook

According to SunSirs' phthalic anhydride product data analyst, on the demand side, the operating rates of DOPproduction facilities at plasticizer companies increased, leading to higher plasticizer production and stronger demand for phthalic anhydride. Overall, while phthalic anhydride costs remained stable, increased operating rates had led to higher supply, and stronger demand provided support. However, phthalic anhydride manufacturers were experiencing increased losses, leading to a strong desire to raise prices. The availability of low-priced phthalic anhydride was decreasing, and market sentiment was becoming more bullish. Therefore, a rebound and increase in phthalic anhydride prices is expected in the future.

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