SunSirs: With Raw Material Prices Rising, the Price of Phthalic Anhydride Increased Significantly

The price of phthalic anhydride rose sharply

According to SunSirs' commodity price analysis system, as of January 12th, the price of OX method phthalic anhydride was 6,283.33 RMB/ton, a significant increase from the price of 5,966.67 RMB/ton on January 1st, representing a 5.31% increase. Starting in late December, the price of phthalic anhydride stopped falling and rebounded, and this upward trend continued last week. Last week, the price of the raw material OX rose sharply, PA costs increased, and the operating rate of phthalic anhydride manufacturers decreased, resulting in insufficient supply of phthalic anhydride; consequently, the price of phthalic anhydride increased significantly.

Phthalic anhydride costs were rising, and supply was insufficient

On January 12th, Sinopec's OX price was 6,300 RMB/ton, an increase of 500 RMB/ton compared to the price of 5,800 RMB/ton on January 1st, representing an 8.62% increase. The significant increase in OX prices hd led to higher phthalic anhydride costs. Last week, the operating rate of phthalic anhydride plants decreased to 63%, resulting in reduced production and a shortage of phthalic anhydride supply.

Demand side: DOP prices stopped falling and started to rise

According to the business data analysis system of SunSirs, as of January 12th, the price of DOP was 7,417.50 RMB/ton, a fluctuating increase of 1.25% compared to the price of 7,325.84 RMB/ton on January 1st. The operating rate of DOP manufacturers remained stable, resulting in stable DOP production, and the demand for phthalic anhydride continued to provide support.

Market Outlook

According to the data analyst for phthalic anhydride products at SunSirs, in terms of costs, the price of OX has risen sharply, leading to increased raw material costs and consequently higher phthalic anhydride costs. Regarding supply, phthalic anhydride manufacturers have reduced production, resulting in decreased output and a shortage of phthalic anhydride supply. Looking ahead, with rising costs and insufficient supply, the supply-demand dynamics for phthalic anhydride are characterized by weak supply and strong demand. Therefore, the price of phthalic anhydride is expected to fluctuate upwards in the future.

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