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SunSirs: Entering December, the Domestic Maleic Anhydride Market Continued to Rise

December 20 2023 14:13:05     SunSirs (John)

Price trend

According to the commodity analysis system of SunSirs, the domestic market for maleic anhydride continued to rise in December. As of December 19th, the average market price of n-butane oxidation method maleic anhydride remained at 7,480.00 RMB/ton, an increase of 5.35% from the price of 7,100.00 RMB/ton on December 1st.

Analysis review

In terms of supply: entering December, the local equipment for maleic anhydride was shut down, resulting in a tight supply of maleic anhydride; In addition, the northern rainy and snowy weather hindered logistics, supporting the maleic anhydride market. As of December 19th, the factory price of solid maleic anhydride in Shandong region was around 7,500 RMB/ton, and the factory price of liquid maleic anhydride was around 7,400 RMB/ton.

Upstream: In December, the hydrogenated benzene market first fell and then rose. Recently, some hydrogenated benzene enterprises that had stopped production in the early stages resumed operation, with a slight increase in operating rates. The overall supply of hydrogenated benzene was still acceptable, but the overall inventory of pure benzene in East China was high, which had a certain drag on the mentality of the spot market. The market for n-butane as volatile, with prices in Shandong ranged from 5,200 to 5,500 RMB/ton as of December 19th.

Downstream: Recently, due to the continuous rise in raw materials, the unsaturated resin market had slightly increased. However, there was no significant positive trend in the resin market, with limited downstream demand and overall poor trading. The market was cautious in its wait-and-see attitude.

Market outlook

SunSirs's maleic anhydride product analyst believes that the upstream hydrogenated benzene market of maleic anhydride was rising, and the cost of maleic anhydride had support; Downstream positions in unsaturated resin raw materials were limited, and shipments from maleic anhydride factories were tight. The execution of preliminary orders was the main focus, and it is expected that the maleic anhydride market will continue to rise in the short term.

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