SunSirs: Domestic Maleic Anhydride Prices Experienced Volatile Upward Movement in May

Price Trends

According to the commodity analysis system of SunSirs, domestic maleic anhydride market trends exhibited volatile upward movement during May. As of May 31, the average quoted price for maleic anhydride stood at 7,962.50 RMB/ton (tax included), representing an increase of 1.27% compared to the price of 7,862.50 RMB/ton recorded on May 1.

Market Analysis

Supply Side: In May, the overall operating rates of domestic maleic anhydride plants remained at a low level, with several major facilities undergoing maintenance. Binzhou Dayou’s 60,000-ton/year unit was shut down in late May, while maintenance at Fujian Baihong’s 150,000-ton/year unit was postponed; consequently, manufacturers restricted shipment volumes, leading to tight spot market supplies. As of May 31, within the Shandong region, the ex-factory price for solid maleic anhydride hovered around 7,000–7,400 RMB/ton, while the ex-factory price for liquid maleic anhydride traded near 7,100 RMB/ton.

Upstream: In May, the market for n-butane in Shandong experienced volatile downward movement. Influenced by geopolitical disturbances in the Middle East, reduced import arrivals, and maintenance shutdowns at certain domestic facilities, overall supply remained relatively tight. On the international front, the Saudi CP butane price held steady at a high level of $800 per ton throughout May.

Regarding the downstream sector: In May, operating rates within the unsaturated resin industry remained sluggish, with manufacturers scheduling production strictly based on incoming orders. End-use sectors—such as building materials, sanitary ware, and handicrafts—entered their traditional off-season; consequently, market trading was subdued, and downstream players engaged only in need-based restocking to cover immediate requirements, with no demand for large-scale inventory replenishment. Furthermore, their tolerance for high-priced raw materials remained extremely low.

Market Outlook

According to an analyst specializing in maleic anhydride at SunSirs, market supply is expected to gradually ease in June as previously idled production facilities resume operations. Consequently, prices may remain under pressure as some enterprises face mounting inventory burdens. Given that operating rates within the downstream unsaturated resin sector are unlikely to see significant short-term improvement, purchasing activity among enterprises will remain driven primarily by immediate necessities, thereby exerting only limited upward influence on maleic anhydride prices. It is projected that the maleic anhydride market will likely follow a downward trend throughout June.

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