SunSirs: In August, the Maleic Anhydride Market Continued to Decline

Price trend

According to the commodity analysis system of SunSirs, the domestic maleic anhydride market continued to decline in the month. As of August 19, the average market price of maleic anhydride produced by n-butane oxidation remained at 5,692.50 RMB/ton, down 2.90% from 5,862.50 RMB/ton on August 1.

Analysis review

On the supply side, maleic anhydride prices continued to decline in August, primarily due to increased supply from Northeast China, resulting in cautious market operations. Furthermore, auction prices in Yantai continued to decline, leading to a corresponding decline in factory-implemented prices. As of August 19, all three production lines of Yantai Wanhua were operating at 70% capacity, and liquid anhydride production at Hubei Zhongneng's facility began entering tanks. Recently, downstream unsaturated resin manufacturers of maleic anhydride were maintaining inventory to meet demand and adopting a wait-and-see approach. As of August 19th, the ex-factory price of maleic anhydride in Shandong Province was around 5,400 RMB/ton for solid anhydride and 4,650 RMB/ton for liquid anhydride.

On the upstream side: In August, the price of n-butane first fell and then rose. As of August 19, the price in Shandong was around 4,580 RMB/ton.

Downstream: The unsaturated resin market was mainly stable. Unsaturated resin was in the off-season, and downstream transactions were general. There was limited support for unsaturated resin, and the market was weak.

Future outlook:

Analysts of maleic anhydride products at SunSirs believe that the market conditions for maleic anhydride's main downstream unsaturated resins were weak, resulting in limited purchases of maleic anhydride. In addition, the maleic anhydride market had sufficient supply, and it is expected that the maleic anhydride market will be dominated by a weak consolidation in the near future.

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