On March 12, the SunSirs benchmark price for phthalic anhydride stood at 7,716.67 RMB/ton, representing an increase of 25.47% compared to the beginning of the month (6,150.00 RMB/ton).

On March 12, price trends in the East China phthalic anhydride market stabilized. Mainstream quotations for OX based phthalic anhydride in the region ranged from 7,900 to 8,200 RMB/ton, while market prices for naphthalene-based phthalic anhydride stood between 7,400 and 7,800 RMB/ton. Amid geopolitical tensions in the Middle East, several nations released crude oil reserves, leading to a decline in crude oil prices and a subsequent reduction in overall production costs. Meanwhile, industrial naphthalene prices surged significantly; although o-xylene quotations were listed at 7,700 RMB/ton—with prices for this feedstock showing signs of stabilization—the overall cost basis for phthalic anhydride had trended downward. In the downstream sector, market conditions for plasticizers softened; however, plasticizer manufacturers slightly increased their plant operating rates to meet essential demand. Consequently, procurement of phthalic anhydride remained primarily driven by immediate requirements, indicating that underlying demand support for the product persists. With phthalic anhydride manufacturers having marginally raised their operating rates—ensuring an ample supply—and inventory levels remaining low, the market is expected to maintain a stable trajectory in the near term.

On March 12, the phthalic anhydride market in the Shandong region stabilized. Mainstream negotiated prices for OX method phthalic anhydride produced ranged from 7,900 to 8,200 RMB/ton, while those for the naphthalene route ranged from 7,400 to 7,600 RMB/ton. Amidst geopolitical tensions in the Middle East, several nations released crude oil reserves, leading to a decline in crude oil prices and, consequently, lower production costs. Regarding raw materials, OX prices stabilized, while industrial naphthalene prices rose; overall, the cost basis for phthalic anhydride trended downward. Meanwhile, market conditions for downstream plasticizers softened. Phthalic anhydride manufacturers saw a slight uptick in equipment operation, resulting in an increased overall operating rate for the industry and ample market supply. Downstream plasticizer producers also saw a modest rise in operating loads; given that underlying demand for phthalic anhydride remained present, the market was trending toward stability.

On March 12, market prices for phthalic anhydride in the Jiangsu region stabilized. Mainstream negotiated prices for product produced via the OX route ranged from 7,900 to 8,200 RMB/ton, while those for the naphthalene route ranged from 7,400 to 7,600 RMB/ton. Phthalic anhydride manufacturers saw a slight uptick in equipment operation, resulting in an increased overall operating rate; consequently, spot supply in the domestic market remains ample. Meanwhile, with conflicts in the Middle East easing and multiple nations releasing crude oil reserves, crude oil prices had declined. As a result, the price of the key raw material—OX—had retreated from its previous highs, while industrial naphthalene prices remained elevated; overall, the production cost for phthalic anhydride had decreased. In the downstream sector, the market for plasticizers had softened, yet plasticizer manufacturers had increased their operating loads. This sustains demand for phthalic anhydride—driven primarily by essential downstream procurement needs—leading to a stabilization of market conditions for the product.

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