Price trend

On March 24, prices in the East China phthalic anhydride market trended upward. Mainstream quotations for OX based phthalic anhydride stood between 8,900 and 9,200 RMB/ton, while market prices for naphthalene-based phthalic anhydride ranged from 8,200 to 8,500 RMB/ton.

Market analysis

Amid the ongoing geopolitical crisis in the Middle East and the release of crude oil reserves by multiple nations under the International Energy Agency, crude oil prices—and consequently production costs—had risen. Furthermore, industrial naphthalene prices had surged, and OX quotations climbed to 9,000 RMB/ton; this rise in OX prices hd driven up the cost of producing phthalic anhydride. In the downstream sector, the market for plasticizers strengthened, and operating rates at plasticizer manufacturing plants stabilized at high levels. Downstream buyers were engaging in rigid, demand-driven procurement; consequently, phthalic anhydride purchases were primarily being conducted on an "as-needed" basis, indicating that underlying demand support for the product remained intact. Phthalic anhydride manufacturers had maintained stable operating rates, ensuring an ample supply of the product, while inventory levels remained low.

The market outlook for phthalic anhydride is expected to rise in the near future.

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