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SunSirs: In Late December, the Domestic Market for Maleic Anhydride Continued to Rise

January 04 2024 14:06:52     SunSirs (John)

Price trend

According to the Commodity Analysis System of SunSirs, the domestic market for maleic anhydride continued to rise in late December. As of December 31, the average market price of n-butane oxidation maleic anhydride remained at 7,860.00 RMB/ton, an increase of 5.08% from the price of 7,480.00 RMB/ton on December 21.

Analysis review

In terms of supply: In late December, the factory mainly executed preliminary orders, and the stock was tight. However, at the end of the month, downstream wait-and-see sentiment was strong, and chasing higher prices was cautious. As of December 31st, the factory price of solid anhydride in Shandong region was around 7,700-7,800 RMB/ton, and the factory price of liquid anhydride was around 7,600-7,700 RMB/ton.

Upstream aspect: In late December, the market for hydrogenated benzene rose, while the overall styrene market rose. The pure benzene hydrogenated benzene market followed suit, with most crude benzene auction prices slightly rising, and the overall industry chain rising.

In late December, the international crude oil market fluctuated, the naphtha market fluctuated and declined, and the recent market for n-butane fluctuated and declined. As of December 31, the price in Shandong was around 5,100-5,200 RMB/ton.

Downstream: In late December, the unsaturated resin market continued to rise due to the continuous rise in raw materials. However, towards the end of the year, downstream demand for resin was weak, and overall market trading was average, with cautious operations.

Market outlook

SunSirs' 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 unsaturated resin transactions were limited, and the market often followedthe trend of entering the market; As of December 31, the prices of the main factories of maleic anhydride remained stable, with the execution of preliminary orders being the main focus. The price of maleic anhydride was high, and downstream purchasing sentiment was average. It is expected that the maleic anhydride market will mainly consolidate at high levels after the holiday.

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