Price trend

On May 11, the benchmark price for phthalic anhydride, as reported by SunSirs, stood at 8,916.67 RMB/ton—a decrease of 0.19% compared to the beginning of the month (8,933.33 RMB/ton).

On May 11, prices in the East China phthalic anhydride market trended sideways. Mainstream quotes for o-xylene-based phthalic anhydride stood at 8,700–8,900 RMB/ton, while market prices for naphthalene-based phthalic anhydride ranged from 7,600 to 7,800 RMB/ton.

Market analysis

With crude oil prices consolidating and cost support remaining in place, industrial naphthalene prices have stabilized. OX was quoted at 9,400 RMB/ton; as OX prices hold steady for the moment, the cost basis for phthalic anhydride has also stabilized. Production shutdowns for maintenance at OX plants have reduced supply, ensuring that underlying support for OX prices persists. In the downstream sector, the market for plasticizers has stabilized, and operating rates at plasticizer manufacturing facilities remain steady. Downstream buyers are engaging in rigid-demand purchasing, while procurement of phthalic anhydride is primarily driven by immediate requirements; consequently, demand support for phthalic anhydride remains intact. However, operating rates at phthalic anhydride plants have declined, leading to a reduction in supply and keeping inventory levels at a low point.

Market Outlook

The market for phthalic anhydride is expected to undergo a period of weak consolidation in the near term.

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