According to the commodity analysis system of Shengyi Society, the domestic maleic anhydride market continued to decline in September. As of September 30th, the average quoted price of maleic anhydride was 5450 yuan/ton (including tax), a decrease of 2.77% from 5605 yuan/ton on September 1st.
Supply side: In early September, a total of 220000 tons of equipment in Shandong and Hebei underwent maintenance, and the main factories limited their shipments, resulting in a decrease in market supply and an increase in the price of maleic anhydride; In mid September, the market for maleic anhydride slightly declined, with poor bidding in Yantai in the early stage and continuous price drops. Recently, some manufacturers have limited sales operations, resulting in a slight increase in prices for maleic anhydride manufacturers, but overall supplier prices remain stable; In late September, the overall market for maleic anhydride fell. Prior to the holiday, maleic anhydride factories reduced their inventory, which provided limited support for the market. Downstream unsaturated resins of maleic anhydride had limited procurement, resulting in a poor stocking atmosphere; At the end of the month, the auction price of Wanhua continued to rise, and the factory price also increased, but the overall dealer quotation remained stable. As of September 30th, the factory price of solid anhydride in the maleic anhydride market in Shandong Province is around 5100 yuan/ton, while the factory price of liquid anhydride is around 4800 yuan/ton.
Upstream: In September, the pure benzene market in Shandong experienced ups and downs. In the first half of the year, the market price mainly fell, in the middle half, the market price mainly rose, and in the second half, the market price fell again. On September 1st, the price was 5975.33 yuan/ton; On September 30th, the price was 5848.67 yuan/ton, a decrease of 2.12% from the beginning of the month.
The domestic n-butane market price fluctuated upward in August, and as of September 30th, the price in Shandong was around 4650 yuan/ton.
Downstream: The unsaturated resin market remained stable in mid to early September, with sufficient supply of unsaturated resin. Downstream transactions were average, with limited support for unsaturated resin; In late September, the unsaturated resin market was weak, and during the National Day holiday, most of them had short-term shutdowns or negative reduction plans. Downstream transactions were average, and support for unsaturated resin was limited, resulting in a weak market situation.
Business Society’s maleic anhydride product analyst believes that during the National Day holiday, the upstream n-butane market for maleic anhydride has fallen, and the cost support for maleic anhydride is limited; But the main downstream unsaturated resin production has gradually resumed, which provides certain support for the procurement of maleic anhydride; In addition, some maleic anhydride enterprises in Shandong have maintenance plans, and the parking facilities have not resumed production in the early stage. The available sources of goods in the main production areas are limited, which has a certain boosting effect on the maleic anhydride market. It is expected that the maleic anhydride market will rise slightly in the near future.
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