Market Analysis - Monthly Report - July, 2020 - Maleic Anhydride
What's hot and trending this month
1) The maleic anhydride market goes up all the way.
2) More orders from manufacturers, less available goods on the market
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This month's market summary
In July, the domestic maleic anhydride market as a whole showed a trend of rising all the way. The supply and demand remained tight in the month and the positive support on the supply side was strong, so the overall high operation was maintained. At the beginning of the month, the market was basically stable and the forces of all parties were relatively balanced. However, with the maintenance of the main factories in East China coming soon and the market expected tight supply, the main manufacturers took the lead in raising prices, driving up prices in the surrounding areas. Under the mentality of buying up rather than buying down, the market trading was obviously active and the market went up for two weeks. In terms of raw materials, under the strong influence of international crude oil shock, the raw material end fluctuates and rises, while the cost end supports strongly. Among them, the hydrogenation benzene for benzene raw materials rebounded from the low level, and the crude benzene price fluctuated in a narrow range. As for the n-butane method, the n-butane performance was strong and the price maintained a high running; Downstream, unsaturated resin in July is still in the off-season market, the start of the basic stable, raw material procurement is still to follow up, the demand side support general.Next month market forecast
Is the current downward signs are obvious, buying more cautious wait-and-see, the market trading is weak; On the raw material side, although the raw material end still has upward possibility but limited influence on the market; Supply, maleic anhydride device starts remain high, and new capacity is actively preparing for the recent continual production, supply of maleic anhydride increased expectations, the obvious contradiction between supply and demand, combined with the current maleic anhydride better profit, willingness to downstream demand is higher, obvious negative performance, expected in August market downward pressure is bigger, maleic anhydride around prices downward space, still need to focus on specific movements for change.
Factory stoppages in China
In July, domestic maleic anhydride operation rate decreased compared with that in June.
China's MA export trend in 2019-2020
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Note: the general administration of customs will no longer separately release the import and export data of January and February in 2020, but will merge the data in March and release the data to the public in January and February. The total amount will be divided equally.
Summary and views
July market volatility strong run, could not obvious change in the demand side, under the condition of maleic anhydride in August market still need to focus on the supply side of change, changzhou, henan new devices are put into production, and is currently in production method of butane device achieves the full load operation, the export market affected by the epidemic at home and abroad a kickback, or will be affected, the overall domestic demand and supply pressure is bigger; The profit before the anhydride is considerable, the lower price mentality is not reduced. Therefore, it is expected that the short-term maleic anhydride will maintain weak operation and save some downward space, which is estimated to be around $10-20/ ton.
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2026-07-29
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