SunSirs:With Costs Decreasing, Phthalic Anhydride Prices Fluctuated and Trended Downwards

The phthalic anhydride market experienced volatile downward trends

According to SunSirs' commodity price analysis system, as of February 5th, the price of OX method phthalic anhydride was 6,193.33 RMB/ton, a fluctuating decrease compared to the price of 6,283.33 RMB/ton on January 21st, a drop of 1.43%. Since late January, the price of phthalic anhydride has been fluctuating downwards. While the price of the raw material o-xylene remained stable, the price of industrial naphthalene fluctuated downwards, leading to lower costs. The operating rate of phthalic anhydride enterprises decreased to around 60%, resulting in a tightening of supply; consequently, the price of phthalic anhydride fluctuated downwards.

Phthalic anhydride costs were falling, and supply was tightening

On February 5th, Sinopec's OX price was 6,400 RMB/ton, remaining stable compared to the price of 6,400 RMB/ton on January 21st. In February, the price of industrial naphthalene in East China was 4,200-4,400 RMB/ton, a decrease compared to the price of 4,350-4,700 RMB/ton in late January, resulting in lower phthalic anhydride production costs. In February, the operating rate of phthalic anhydride plants decreased to 61%, leading to reduced production and a tightening of phthalic anhydride supply.

Demand side: DOP prices fluctuated and trended downwards

According to SunSirs' commodity price analysis system, as of February 5th, the price of DOP was 7,925.84 RMB/ton, a fluctuating decrease of 1.25% compared to the price of 8,025.84 RMB/ton on February 2nd. The operating rate of DOP manufacturers remained stable at around 65%, resulting in stable DOP production, and demand for phthalic anhydride continues to provide support.

Market outlook

According to SunSirs' phthalic anhydride product data analyst, in terms of costs, the price of o-xylene was stabilizing, while the price of industrial naphthalene fejj sharply. The decrease in raw material prices led to a decrease in the cost of phthalic anhydride. In terms of supply, phthalic anhydride manufacturers had reduced their operating rates, resulting in decreased production and a tightening of supply. Looking ahead, with lower costs, coupled with tight supply and stable demand, the price of phthalic anhydride is expected to fluctuate but remain relatively stable.

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