Price trend
According to the Commodity Analysis System of SunSirs, the domestic market for maleic anhydride haD continued to rise recently. As of June 24th, the average market price of n-butane oxidation method maleic anhydride remained at 7,210 RMB/ton, a decrease of 1.10% compared to the price on June 17th at 7,290 RMB/ton.
Analysis review
In terms of supply: Wanhua had resumed production recently and planned to sell out. Recently, the prices of major factories had continued to decline, and market prices had continued to fall. As of June 24th, the ex factory price of solid anhydride in Shandong region was around 6,800 RMB/ton, and the ex factory price of liquid anhydride was around 6,100 RMB/ton.
Upstream: The international crude oil market had been on the rise recently, while the n-butane market had fallen overall. As of June 24th, the price in Shandong was around 5,250 RMB/ton.
Downstream: As of June 24th, raw material prices had fallen, and prices of the main unsaturated resin factories had also fallen. Recently, unsaturated resin had entered the off-season, with limited downstream production and limited support for unsaturated resin.
Market outlook
SunSirs' maleic anhydride product analyst believes that the prices of the main maleic anhydride factories had continued to decline recently, coupled with the resumption of production of Wanhua, they planned to sell out, downstream unsaturated resins entered the off-season, with limited procurement of maleic anhydride. It is expected that the maleic anhydride market will mainly consolidate at a low level in the near future.
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