Price trend
According to data from SunSirs, the domestic market for maleic anhydride continued its downward trend last week; as of June 26, the average market price stood at 7,600 RMB/ton, a decline of 1.3% from the 7,700 RMB/ton recorded on June 22.
Market analysis
On the supply side, there has been a recent wave of maleic anhydride plants resuming production, leading to increased market supply. Coupled with insufficient downstream orders and sluggish shipments, prices from major producers have continued to decline. As of June 26, ex-factory prices in the Shandong region hovered around 6,300–6,600 RMB/ton for solid maleic anhydride and 6,100–6,300 RMB/ton for liquid maleic anhydride.
Regarding upstream conditions, the market for n-butane saw a sharp drop in mid-June, though domestic prices rose slightly last week to 5,450 RMB/ton. The Saudi CP (Contract Price) for June was set at $820/tonne, an increase of $20/tonne from the previous month.
Regarding the downstream sector: Domestic unsaturated resin prices underwent a weak consolidation last week. Costs were weighed down by the continued decline of upstream styrene and maleic anhydride, while downstream industries—such as fiberglass-reinforced plastics and construction materials—entered the traditional off-season characterized by high temperatures. With insufficient operating rates among end-users, the market is expected to maintain a pattern of weak, narrow-range fluctuation in the short term.
Market outlook
Analysts at SunSirs believe that the domestic maleic anhydride market will remain weak in the near term. On the demand side, operating rates in the downstream unsaturated resin industry are unlikely to see a significant rise soon. On the cost side, raw material prices are trending low, providing weak cost support for production. Furthermore, the recent concentrated restart of production facilities has increased market supply.
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