According to data from the Business News Agency, the domestic maleic anhydride market has declined this week. As of March 26, the average market price of n-butane oxidation maleic anhydride remained at 7700.00 yuan/ton, down 1.16% from the price of 7790.00 yuan/ton on March 20, and up 0.26% from the same period last month.
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On March 26, the maleic anhydride commodity index stood at 72.54, unchanged from yesterday, down 56.41% from the cycle’s highest point of 166.43 points (2021-12-15), and up 41.74% from the lowest point of 51.18 points on April 14, 2020. (Note: The cycle refers to 2011-09-01 to now)
Most of the domestic phenylmaleic anhydride market was shut down this week. Downstream resin costs and terminal performance have been depressed, with limited enthusiasm for maleic anhydride replenishment. As of the 26th, solid anhydride in Shandong was about 7300 yuan/ton, and solid anhydride in Jiangsu was about 7300 yuan/ton. There was no new price outflow from Shanxi and Hebei regions, while solid anhydride in South China was about 7800 yuan/ton.
On the upstream side, the price of pure benzene in the East China market rose in a narrow range, with few spot transactions, mainly for monthly transactions. The stable prices of main units have boosted the market, and there is insufficient room for price decline. Some downstream and traders in Shandong are bullish in the future. The ex factory price of hydrogenated benzene in North China was lowered to 7183.33 yuan/ton at the end of last week, and 7100 yuan/ton at the end of this week, down 1.16%. The market for n-butane continued to decline this week, with the price of about 5100 yuan/ton in Shandong as of March 26.
The maleic anhydride product analyst at Business News believes that the price of n-butane in the upstream of maleic anhydride continued to decline this week, with weak market buying momentum; In addition, there is still a weak sentiment in downstream resins, so it is prudent to cover positions. Recently, there is strong wait-and-see sentiment in the market, and it is expected that the maleic anhydride market may be dominated by weak consolidation.
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