Price trend

On March 19, price trends in the East China phthalic anhydride market stabilized. Within the market, mainstream quotations for o-xylene-based phthalic anhydride ranged from 8,400 to 8,800 RMB/ton, while market prices for naphthalene-based phthalic anhydride stood between 8,000 and 8,300 RMB/ton.

Market Analysis

Amidst the ongoing geopolitical crisis in the Middle East, and following the International Energy Agency's release of crude oil reserves, crude oil prices have trended upward amidst market volatility. Driven by rising costs—specifically a sharp surge in industrial naphthalene prices—the quoted price for OX haD reached 8,600 RMB per ton; as OX prices fluctuated upward, the production costs for phthalic anhydride had consequently risen. In the downstream sector, the market for plasticizers was on the rise, with production facilities at plasticizer manufacturers maintaining high and stable operating rates. Downstream buyers were engaging in essential, rigid-demand procurement; consequently, phthalic anhydride was being purchased primarily on an "as-needed" basis, ensuring that underlying demand support for the product remained intact. Phthalic anhydride manufacturers had seen their facility operating rates stabilize, resulting in an ample supply of the product, while inventory levels remained low.

Market outlook

The phthalic anhydride market is expected to be stabilized strongly in the near term.

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