Construction Boosts Weak Demand; Benzoic Anhydride Prices Fluctuate and Decline This Week

November 24, News

This week, the phthalic anhydride market in China fluctuated and declined.

According to the commodity market analysis system, as of November 24, the price of o-phthalic anhydride in China was 5800 CNY/ton, a decrease of 1.58% from the price of 5893.33 CNY/ton on November 14. The price of o-phthalic anhydride continued to decline, with the price fluctuating downward. The price of ortho-xylene remained stable, and costs stabilized. The operating rate of o-phthalic anhydride enterprises slightly increased, and the supply of o-phthalic anhydride was sufficient. The operating load of downstream DOP enterprises also slightly increased, and there was still demand support for o-phthalic anhydride. With the decrease in costs and the support of demand, the price of o-phthalic anhydride fluctuated downward this week.

Phthalic anhydride costs in China are stabilizing.

On November 24, Sinopec's ortho-xylene quote was 5,800 CNY/ton, stable compared to the price of 5,800 CNY/ton on November 14. The price of ortho-xylene is currently stable, and the cost of phthalic anhydride is also stabilizing. The operating load of phthalic anhydride equipment has slightly increased, and the supply of phthalic anhydride is adequate. Although the supply cost is stabilizing, there is still pressure for the price of phthalic anhydride to decrease.

Demand Side: DOP Prices Rebound and Rise

According to the commodity market analysis system, as of November 24, the DOP price was 6,967.50 CNY/ton, up from 6,883.34 CNY/ton on November 14, with a price increase of 1.22%. With the rise in DOP costs, DOP prices have also increased. This week, the operating load of DOP plasticizer enterprises in China has slightly improved, leading to an increase in DOP production. The demand for phthalic anhydride remains supported, and the downward pressure on phthalic anhydride has weakened.

Future Market Prediction

Phthalic anhydride product data analysts believe that in terms of demand, the operating load of DOP equipment in plasticizer enterprises in China has slightly increased, and the production of plasticizers has also increased, providing continued support for phthalic anhydride demand. In terms of costs, the price of ortho-xylene is stable for now, and the prices of raw materials are also stabilizing, keeping the cost of phthalic anhydride steady. Looking ahead, with the cost of phthalic anhydride remaining stable and the operating rate of phthalic anhydride increasing, weak demand is expected to lead to a weak but stable trend in the price of phthalic anhydride.