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SunSirs: N-Butane Continued to Rise, and the Maleic Anhydride Market Followed Suit

August 02 2023 09:27:27     SunSirs (John)

Price trend

According to data from SunSirs, the domestic maleic anhydride market was on the rise this week. As of July 30th, the average market price of maleic anhydride produced by n-butane oxidation method remained at 6,320.00 RMB/ton, an increase of 0.32% compared to the price of 6,300.00 RMB/ton on July 24th, and an increase of 2.60% compared to the same period last month.

On July 30th, the maleic anhydride commodity index was 59.54 points, unchanged from the previous day, a decrease of 64.23% from the cycle's highest point of 166.43 points (2021-12-15), and an increase of 16.33% from the lowest point of 51.18 points on April 14th, 2020. (Note: The cycle refers to the period from September 1st, 2011 to the present)

Analysis review

This week, the downstream resin market remained basically stable, and the resin downstream replenished on demand. The resin manufacturers' shipments were average, and the replenishment of maleic anhydride was limited. The international crude oil market was fluctuating and rising, the raw material n-butane market was rising, and the maleic anhydride market was rising. By the 30th, the solid maleic anhydride in Shandong was about 6,100 RMB/ton, that in Jiangsu was about 6,100 RMB/ton, and that in South China was about 6,500 RMB/ton.

On the upstream side, the price of pure benzene had increased this week. On July 24th, the price of pure benzene was 7,037 RMB/ton, and on July 30th, it was 7,230 RMB/ton, an increase of 4.76%. The ex factory price of hydrogenated benzene in North China increased. On July 30, the price of hydrogenated benzene was 7,250 RMB/ton, and on July 24, the price was 6,933 RMB/ton, up 4.57%. The market for n-butane continued to rise this week, with prices in Shandong reaching around 4,700 RMB/ton as of July 30th.

Market outlook

SunSirs’ maleic anhydride product analysts believe that the upstream n-butane market of maleic anhydride continued to rise this week, driving up the domestic maleic anhydride market. The downstream resin market was sorted out, and there was a replenishment on demand. In addition, there was no inventory pressure from maleic anhydride manufacturers. It is expected that the maleic anhydride market may rise in the near future.

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