Market Analysis - Monthly Report - July, 2020 - Phthalic Anhydride
What's hot and trending this month
1) Weak market operation in July, the end of the decline
2) Phthalic anhydride maintained profit in July
3) In July, the naphthalene method showed significant loss of phthalic anhydride
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This month's market summary
This month, the domestic anhydride market shock finishing, trading atmosphere cold. There is no substantial improvement in the end demand, downstream plasticizer continues to decline, to maintain the rigid demand for phthalic anhydride, resistance is also increased. In the face of poor new orders, the industry is also under pressure, to reduce shipping resistance, both phthalic anhydride and naphthalene phthalic anhydride have a certain margin of callback. But the industrial naphthalene price and the low level of the supply level of the phthalic anhydride industry, release good, so the market trend tends to slow. Industry naphthalene price firm, naphthalene series phthalic anhydride deficit is serious, and naphthalene series phthalic anhydride serious deficit is opposite, phthalic anhydride industry maintains profit situation.
Next month market forecast
The spot supply level of the phthalic anhydride industry is low. Although the mainstream manufacturers are operating normally at present, some of them are still in negative inventory. It is expected that the shortage of phthalic anhydride products will continue to support the market. Demand has not improved substantially, but needs to be maintained. On the basis of the low season, the production and sales of phthalic products are limited, and the trend of downstream plasticizer is down, the resistance is intensified, the new orders of the phthalic anhydride industry is limited, it is expected to be more on demand procurement; Stable raw material o-benzene, Sinopec east China listed to maintain 4400 CNY/ton, phthalic anhydride industry profit is still rich. Industrial naphthalene price is high, naphthalene series phthalic anhydride deficit is serious, by industrial naphthalene and naphthalene series phthalic anhydride influence, the decline of the phthalic anhydride industry is limited; Operators participate in the market cautiously, basically just need to take goods, and chase high risk awareness; Enter August, for the phthalic anhydride industry is still in the traditional low season, just need to maintain the situation. Industrial naphthalene industry supply is low, the price will remain firm, naphthalene series phthalic anhydride save some support, but the demand is weak pressure mentality, is expected to run weak in the short term.
Factory stoppages in China
In july, domestic phthalic anhydride factory operating rate rose slightly.
China's PA 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
In July, the domestic phthalic anhydride market to weak negative trend end, trading atmosphere light. In August, for the development of products, is still traditional off-season period, limited terminal PVC soft products industry production and marketing situation, future demand for phthalic anhydride, phthalic anhydride industry spot supply level is not high, whether adjacent benzene anhydride or naphthalene method of benzene anhydride manufacturer is no inventory pressure, even before the delivery period order based on the negative inventory parts, less cargo situation is expected to continue. The industrial naphthalene price is firm, naphthalene series phthalic anhydride is in serious deficit situation, therefore to the phthalic anhydride market decline has some restraint, it is expected that although the phthalic anhydride industry is not free of certain profit, but the basic narrow operation, just need to become normal.
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