November Maleic Anhydride Prices Generally Decline in China

December 06 news

According to the commodity analysis system, in November, the market for maleic anhydride in China continued to decline in the first half of the month and rebounded at the end of the month. At the beginning of December, the market mainly stabilized. As of December 5th, the average price of maleic anhydride was 5,250 CNY/ton (including tax), a decrease of 2.33% from 5,375 CNY/ton on November 1st.

On the supply side: In mid-to-late November, the maleic anhydride market continued to decline. Wan Hua’s auction results were generally unsatisfactory, leading to an overall downward trend in prices and providing limited support for the maleic anhydride market. Prices at major maleic anhydride producers followed suit and fell accordingly. However, in late November, the maleic anhydride market began to rebound steadily. Wan Hua’s auction prices rose continuously, providing strong support for the market. Prices at major maleic anhydride producers also continued to climb. Additionally, with planned shutdowns at facilities in Jiangsu, the Chinese maleic anhydride market was further boosted, driving the market upward. As of December 5, the spot price of solid maleic anhydride in Shandong region was around 4,950 CNY per ton, while the spot price of liquid maleic anhydride was around 4,750 CNY per ton.

Upstream: In November, the market price of pure benzene in Shandong, China, fluctuated and increased. The price on November 1st was 5,172 CNY/ton; by December 5th, it had risen to 5,254.33 CNY/ton, an increase of 1.59% from the beginning of the month. Recently, the spot market prices in East China have remained stable. Currently, industry participants have a positive outlook for the future of pure benzene, with a strong trend in the market. In Shandong, recent sales have been good, and market confidence is high, leading to a slight increase in prices from local refineries.

In November, the market price of n-butane in China rose overall, with the price in Shandong around 4,620 CNY/ton as of December 5th.

On the downstream side: In November, the market for unsaturated resins was mainly characterized by weak and stable trading conditions. Downstream buyers continued to maintain their basic demand, providing limited support for unsaturated resins.

Maleic anhydride product analysts believe that entering December, the overall market for maleic anhydride in China is mainly undergoing adjustments. A facility in Jiangsu plans to shut down at the beginning of December; facilities in South China have shown a reduction in load; Wanhua's auction results were poor, with overall prices declining, and the market's wait-and-see sentiment has increased. Additionally, as the main downstream demand for maleic anhydride, unsaturated resins, is primarily characterized by rigid procurement, it is expected that the recent maleic anhydride market will mainly be in a state of adjustment.