June 30 News
According to the commodity analysis system, the phthalic anhydride market in China first rose and then fell in June, with an overall downward trend. As of June 30, the average price of phthalic anhydride was 7,250 CNY/ton (including tax), a decrease of 8.08% from 7,887.50 CNY/ton on June 1.
Supply side: In mid-June, plant maintenance in China led to a tightening of supply and a phase of restocking downstream, which drove up prices. However, the high prices could not be sustained due to weak demand in the off-season. As production resumed and supply increased, the supply-demand contradiction fully erupted, leading to a significant price drop in the latter part of the month. By June 30, the factory price for solid maleic anhydride in Shandong region was around 6100-6600 CNY/ton, while the factory price for liquid maleic anhydride was around 6000-6300 CNY/ton.
On the upstream side: In June, the market price of n-butane in Shandong dropped significantly, influenced by the easing of international geopolitical tensions and weaker crude oil prices. On the international front, Saudi CP prices in June stood at USD 820 per ton, up USD 20 per ton from the previous month.
Downstream: In June, the unsaturated polyester resins, plasticizers, and coatings industries in China entered the traditional off-season. Under high temperatures, the operating rates of end-product manufacturing enterprises dropped significantly, leading to poor finished product sales and raw material purchases being maintained at only the necessary levels.
Maleic anhydride product analysts believe that the high-temperature low season in July will continue, making it difficult for downstream resins and coatings industries to see a significant increase in operations. Demand for maleic anhydride remains weak; moreover, with maleic anhydride production likely to remain at high levels, market inventory depletion is slow. It is expected that the price of maleic anhydride may continue to show a weak fluctuation.
