SunSirs: Phthalic Anhydride Prices Fluctuated Downwards Due to Weak Demand

Phthalic anhydride prices fluctuated and fell

According to the SunSirs commodity market analysis system, as of October 27, the price of OX based phthalic anhydride was 5,983.33 RMB/ton, a 0.83% decrease from price of the 6,033.33 RMB/ton on October 20. This cycle, OX prices remained stable, while industrial naphthalene prices consolidated weakly, providing insufficient support for phthalic anhydride costs. Phthalic anhydride equipment loads rebounded slightly this cycle, with phthalic anhydride plant operating rates increasing. Phthalic anhydride supply was sufficient, while downstream plasticizer prices fluctuated downward, with plasticizer plant operating rates decreasing, weakening demand support for phthalic anhydride. With costs remaining stable and demand weak, phthalic anhydride prices fluctuated downward this cycle.

Demand side: Downstream production declined, and DOP prices fluctuated and fell

According to the SunSirs commodity market analysis system, as of October 27, the price of DOP was 7,109.16 RMB/ton, a 1.39% decrease from the price of 7,209.17 RMB/ton on October 20. DOP prices fluctuated downward this cycle, with DOP companies operating at less than 60% capacity, a slight decline in operating rates. Phthalic anhydride demand remained weak, increasing downward pressure on prices this cycle.

Market outlook

Analysts of phthalic anhydride product data at SunSirs believe that on the demand side, the workload of plasticizer manufacturers had slightly decreased, plasticizer production had stabilized, and demand for phthalic anhydride had declined. On the cost side, OX prices stabilized, while industrial naphthalene prices had weakened and stabilized, leading to a stabilization in phthalic anhydride costs. As for the future market, the cost of phthalic anhydride is temporarily stable, and demand remains weak, so the price of phthalic anhydride is expected to fluctuate and fall.

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