SunSirs: Maleic Anhydride Continued to Decline in September and May Rise in October

Price trend

According to the SunSirs commodity analysis system, domestic maleic anhydride prices continued to decline in September. As of September 30, the average quoted price of maleic anhydride was 5,450 RMB/ton (tax included), down 2.77% from 5,605 RMB/ton on September 1.

Analysis review

On the supply side, in early September, a total of 220,000 tons of production capacity in Shandong and Hebei provinces was undergoing maintenance, leading to limited shipments from major factories. This reduced market supply and led to an increase in maleic anhydride prices. In mid-September, maleic anhydride prices fell slightly. Early bidding in Yantai was sluggish, and prices continued to fall. Recently, some manufacturers had implemented sales restrictions, leading to a slight increase in maleic anhydride factory prices, but overall supplier prices remained stable. In late September, maleic anhydride prices fell overall. Pre-holiday inventory reduction by maleic anhydride factories provided limited support, and downstream unsaturated resin manufacturers were limited in their purchases of maleic anhydride, resulting in a lack of stocking. At the end of the month, Wanhua's auction prices continued to rise, along with ex-factory prices, but distributor quotations remained generally stable. As of September 30, the ex-factory price of maleic anhydride in Shandong was around 5,100 RMB/ton for solid maleic anhydride and 4,800 RMB/ton for liquid maleic anhydride.

Upstream: The Shandong region's benzene market experienced a volatile period in September. Prices fell in the first half of the month, rose in the middle, and then fell again in late month. On September 1, the price was 5,975.33 RMB/ton; on September 30, it was 5,848.67 RMB/ton, a 2.12% decrease from the beginning of the month.

In August, the domestic n-butane market price fluctuated upward. As of September 30, the price in Shandong was around 4,650 RMB/ton.

On the downstream side: In mid-to-early September, the unsaturated resin market was mainly stable, the supply of unsaturated resin was sufficient, the downstream transactions were general, and the support for unsaturated resin was limited; in late September, the unsaturated resin market was weak, most of them had short-term suspension or load reduction plans during the National Day holiday, the downstream transactions were general, and the support for unsaturated resin was limited, and the market situation was weak.

Market outlook

Analysts of maleic anhydride products from SunSirs believe that the price of n-butane, the upstream product of maleic anhydride, fell during the National Day holiday, and the cost support for maleic anhydride was limited; but the production of the main downstream unsaturated resins had gradually resumed, which provided certain support for maleic anhydride purchases; in addition, some maleic anhydride companies in Shandong had maintenance plans, and the previously shut down units had not resumed production, so the supply available in the main production areas was limited, which had a certain boosting effect on the maleic anhydride market. It is expected that the maleic anhydride market may rise slightly in the near future.

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