The phthalic anhydride market continued to decline in May
According to the Commodity Market Analysis System of Shengyi Society, as of May 30th, the price of phthalic anhydride in neighboring countries was 6950 yuan/ton, a fluctuating decrease of 2.80% compared to the price of 7150 yuan/ton on May 1st. During the US China tariff negotiations, the phthalic anhydride market was favorable, with a brief increase in phthalic anhydride prices. However, the demand for phthalic anhydride did not grow well, and phthalic anhydride enterprises resumed production, with the operating rate of phthalic anhydride enterprises increasing to about 70%. Downstream demand for plasticizers rebounded, and the increase in supply and demand did not meet expectations, resulting in a continuous decline in phthalic anhydride prices.
Supply side: resumption of work and increase in supply
The phthalic anhydride plant has resumed operation, and the capacity utilization rate of the domestic phthalic anhydride industry has increased to about 70%. The capacity utilization rate of the naphthalene phthalic anhydride industry has remained stable; The utilization rate of production capacity in the domestic phthalic anhydride industry has been improved, and the supply of phthalic anhydride has increased.
Demand side: DOP market hits bottom and rebounds
According to the Commodity Market Analysis System of Shengyi Society, as of May 30th, the DOP price was 8250.83 yuan/ton, a decrease followed by an increase of 1.27% compared to the DOP price of 8147.50 yuan/ton on May 1st; Compared with the DOP price of 7850 yuan/ton on May 11th, it rebounded and rose by 5.11%. In early May, DOP prices continued the downward trend of April and fluctuated downwards. Starting from mid May, with the easing of tariffs and the expected increase in demand for plasticizers, the price of plasticizers hit the bottom and rebounded. In addition, the price of raw material isooctanol first fell and then rose, the price of phthalic anhydride fluctuated and fell, the cost of plasticizers first fell and then rose, and the price of plasticizers hit the bottom and rebounded.
Future forecast
According to the data analyst of Shengyi Society’s phthalic anhydride products, on the supply side, phthalic anhydride manufacturers have increased their production, resulting in an increase in phthalic anhydride supply; In terms of demand, during the economic and trade negotiations between China and the United States, it is expected that the plasticizer market will rebound, and the demand for phthalic anhydride will increase. However, the demand recovery is not as expected, and the support for phthalic anhydride demand is insufficient. In the future, with strong supply and weak demand, it is expected that the price of phthalic anhydride will remain weak and stabilize.
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