SunSirs: The Overall Maleic Anhydride Market Fell Slightly in Late September

Price trend

According to the commodity analysis system of SunSirs, the domestic maleic anhydride market fell slightly in late September. As of September 30, the average market price of maleic anhydride produced by n-butane oxidation remained at 5,450.00 RMB/ton, down 3.11% from 5,625.00 RMB/ton on September 21.

Analysis review

On the supply side, maleic anhydride prices generally declined in late September. Pre-holiday inventory reduction efforts by maleic anhydride factories provided limited support. Purchases of maleic anhydride by unsaturated resin suppliers, the downstream player in maleic anhydride, were limited, leading to a lack of stocking. At the end of the month, Wanhua's auction prices continued to rise, with ex-factory prices following suit. However, dealer quotations remained generally stable. As of September 30th, the ex-factory price of maleic anhydride in Shandong Province was around 5,100 RMB/ton for solid maleic anhydride and 4,800 RMB/ton for liquid maleic anhydride.

On the upstream side: n-butane prices rose in late September, and as of September 30, the price in Shandong was around 4,650 RMB/ton.

Downstream: The unsaturated resin market was weak. Most of the companies had plans for short-term stoppage or load reduction during the National Day holiday. Downstream transactions were average, which provided limited support for unsaturated resin and the market was weak.

Market outlook

Analysts of maleic anhydride products from SunSirs believe that the market for unsaturated resins, the main downstream product of maleic anhydride, was weak, and purchases of maleic anhydride were limited; factories had no pressure to hold positions, and logistics were restricted during the holidays, so it is expected that the maleic anhydride market will be mainly consolidated after the holidays.

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