SunSirs: The Domestic Maleic Anhydride Market Fell First and Then Rose in April

Price trend

According to the commodity analysis system of SunSirs, the domestic maleic anhydride market first fell and then rose in April, with an overall increase. As of April 30th, the average bid price for maleic anhydride was 6,920.00 RMB/ton (including tax), an increase of 2.59% from 6,750.00 RMB/ton on April 1st.

Analysis review

On the supply side: In mid to early April, due to the impact of US tariffs, there was a significant decline in domestic bulk commodities, and the factory execution prices in the domestic maleic anhydride market continued to fall. Downstream unsaturated resin manufacturers of maleic anhydride had limited procurement, and they mainly replenished their demand for maleic anhydride. In late April, Yantai Wanhua unexpectedly shut down, and the price of maleic anhydride factory increased significantly. As of April 30th, Yantai Wanhua was parked until the end of May, and Hengli Petrochemical had a low load. Qingdao Refining and Chemical would start selling during the May Day holiday. As of April 30th, the factory price of solid anhydride in Shandong region was around 6,700 RMB/ton, and the factory price of liquid anhydride was around 6,400 RMB/ton.

Upstream: Benzene market prices fluctuated and fell in April. The market price fell in early April, fluctuated and rose in the middle, and fell in late April. On April 1st, the price was 6,659.67 RMB/ton; On April 29th, the price was 5,785.33 RMB/ton, a decrease of 13.13% from the beginning of the month.

The international crude oil market fluctuated downward in April, and the price of n-butane in the market decreased. As of April 30th, the price in Shandong was around 5,030-5,100 RMB/ton.

Downstream: During the May Day holiday, some unsaturated resin plants were shut down, resulting in a relative decrease in supply. Unsaturated resin was urgently needed for downstream procurement, which limited support for unsaturated resin and led to a strong market wait-and-see sentiment.

Market outlook

The maleic anhydride product analyst of SunSirs believes that the main downstream resin of maleic anhydride may restart gradually in the near future. As of April 30th, the focus was on stabilizing prices and observing, which had limited support for the maleic anhydride market. In addition, the downward trend of crude oil market during the May Day holiday was not good for the domestic maleic anhydride market. It is expected that the maleic anhydride market will decline in the near future.

If you have any enquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.