Price trend

On April 15, prices in the East China phthalic anhydride market trended sideways. Within the market, mainstream quotes for phthalic anhydride produced via the OX route ranged from 9,100 to 9,400 RMB/ton, while market prices for naphthalene-based phthalic anhydride stood between 8,100 and 8,400 RMB/ton.

On April 15, the benchmark price for phthalic anhydride, as reported by SunSirs, stood at 9,300.00 RMB/ton—a decrease of 1.24% compared to the beginning of the month (9,416.67 RMB/ton).

Market analysis

With the two-week ceasefire in Iraq, crude oil prices are consolidating at high levels; bolstered by this cost support, industrial naphthalene prices have stabilized. The quoted price for OX stood at 9,400 RMB/ton; as OX prices rose, the production costs for phthalic anhydride were consequently increasing. OX manufacturers had suspended operations for maintenance, resulting in a reduced supply of orthoxylene, and thus, upward price support for the material remained intact. Meanwhile, the downstream market for plasticizers was experiencing a downturn, though the operating rates at plasticizer manufacturing plants had stabilized; downstream buyers were engaging in strictly need-based procurement. Consequently, purchasing activity for phthalic anhydride remained primarily on an "as-needed" basis, yet demand support for the product persists. Phthalic anhydride manufacturers have increased their plant operating rates, ensuring an ample supply of the product, while inventory levels remained low.

Market outlook

The phthalic anhydride market is expected to undergo consolidation in the near term.

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