SunSirs: Demand Was Weak, Phthalic Anhydride Prices Were Consolidating at the Bottom

Phthalic anhydride market weakly stabilized

According to the SunSirs Commodity Market Analysis System, as of September 22nd, the price of OX based phthalic anhydride was 6,293.33 RMB/ton, a slight decrease of 0.11% from the price of 6,300 RMB/ton on September 15th. The price of OX remained stable, while the price of industrial naphthalene fluctuated and stabilized. Phthalic anhydride cost support remained. Last week, phthalic anhydride equipment load decreased, phthalic anhydride plant operating rates declined, and phthalic anhydride supply decreased. Downstream plasticizer prices fluctuated and consolidated, with plasticizer plant operating loads slightly decreasing. Phthalic anhydride demand was limited. With limited demand support, phthalic anhydride prices weakened and stabilized.

Phthalic anhydride costs was temporarily stable

On September 22nd, Sinopec's OX price was 6,400 RMB/ton, temporarily stable compared to the previous week. Industrial naphthalene prices fluctuated but stabilized, along with OX prices and phthalic anhydride costs. Last week, the operating load of phthalic anhydride equipment decreased slightly, the operating rate of phthalic anhydride plants decreased, and the supply of phthalic anhydride decreased.

Demand side: Downstream production was consolidating at a high level, and DOP prices were fluctuating and falling

According to the SunSirs commodity market analysis system, as of September 22, the price of DOP was 7,450.84 RMB/ton, a 0.78% decrease from the 7,509.16 RMB/ton on September 15. This volatile decline in DOP prices was due to DOP companies operating at high capacity levels, temporarily stabilizing demand for phthalic anhydride, and providing limited support for price increases.

Market outlook

Analysts of phthalic anhydride product data at SunSirs believe that demand remained supported by plasticizer production, which was consolidating at high levels. In terms of cost, the price of OX was temporarily stable, the price of industrial naphthalene fluctuated and stabilized, and the cost of phthalic anhydride stabilized.In the future, the cost of phthalic anhydride will stabilize and the price of phthalic anhydride is expected to consolidate at the bottom.

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