On March 17, the benchmark price for phthalic anhydride, as reported by SunSirs, stood at 8,316.67 RMB/ton—an increase of 35.23% compared to the beginning of the month (6,150.00 RMB/ton).

On March 17, prices in the East China phthalic anhydride market trended upward. Mainstream quotations for o-xylene-based phthalic anhydride stood between 8,300 and 8,700 RMB/ton, while market prices for naphthalene-based phthalic anhydride ranged from 7,900 to 8,200 RMB/ton. Amid the ongoing geopolitical crisis in the Middle East and the International Energy Agency's release of crude oil reserves, crude oil prices had fluctuated upward. This rise in feedstock costs—specifically the surge in industrial naphthalene prices and the fluctuating upward trend in o-xylene prices (quoted at 8,400 RMB/ton)—had driven up production costs for phthalic anhydride. Meanwhile, the downstream market for plasticizers had strengthened; plasticizer manufacturers were maintaining high and stable operating rates, driven by essential downstream demand. Consequently, phthalic anhydride procurement remained primarily driven by immediate necessity, ensuring continued underlying support for demand. With phthalic anhydride manufacturers maintaining stable operating rates and inventories remaining at low levels, the market is expected to trend upward in the near future.

On March 17, the phthalic anhydride market in the Shandong region trended upward. Mainstream negotiated prices for phthalic anhydride produced via the o-xylene route ranged from 8,300 to 8,700 RMB/ton, while those for the naphthalene route ranged from 7,900 to 8,200 RMB/ton. Amid the ongoing geopolitical crisis in the Middle East, several nations released crude oil reserves, causing crude oil prices to fluctuate upward. This rise in upstream costs—specifically the price increases for the raw materials o-xylene and industrial naphthalene—had driven up production costs for phthalic anhydride. Concurrently, market prices for downstream plasticizers had risen. Phthalic anhydride manufacturers had maintained stable plant operations and operating rates; market supply remained ample, and operating loads at plasticizer enterprises had stabilized. With continued support from rigid demand, the phthalic anhydride market was experiencing a strong upward trend.

On March 17, market prices for phthalic anhydride in the Jiangsu region rose. Mainstream negotiated prices for product derived via the o-xylene route ranged from 8,300 to 8,700 RMB/ton, while those for product derived via the naphthalene route ranged from 7,900 to 8,200 RMB/ton. Phthalic anhydride manufacturers maintained stable plant operations, and the overall operating rate for the sector remained steady for the time being; consequently, spot supply in the domestic market remained ample. Amidst conflicts in the Middle East and the release of crude oil reserves by multiple nations, crude oil prices continued to consolidate at high levels. Meanwhile, prices for the raw material o-xylene increased, and industrial naphthalene prices remained elevated, driving up production costs for phthalic anhydride. Concurrently, market conditions for downstream plasticizers improved, and plasticizer manufacturers saw a slight uptick in operating loads; this sustained demand from downstream sectors—driven primarily by essential procurement needs—fueled a strong upward trend in the phthalic anhydride market.

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