First, the trend of the market:

According to statistics, the domestic market price of phthalic anhydride began to drop slightly in late September. As of 27 days, the domestic market price of phthalic anhydride was 7150 yuan/ton, with a decline of 0.69%. About 7000-7100 yuan/ton of ortho-phthalic anhydride in Shandong and 7200-7400 yuan/ton of phthalic anhydride in Jiangsu are the mainstream of phthalic anhydride negotiations. There is sufficient spot supply in the market. The manufacturers reflect that the recent situation of goods is not good, and the price of phthalic anhydride has dropped slightly.

II. Market analysis:

Products: Recently, the domestic market price of phthalic anhydride has fallen down, the onset rate of phthalic anhydride is more than 60%, the spot supply is normal, some manufacturers reflect that the situation of recent goods is not good, the inventory of manufacturers has increased compared with the earlier period, and the market price of phthalic anhydride has slightly fallen. In recent years, the price of raw materials in the upstream market fluctuated mainly, the price of port phthalates did not change much, and there were still installations for overhaul in the phthalic yard, but the spot purchases of phthalic anhydride in the industry were less than in mid-early September, and the affected prices in the phthalic anhydride market dropped slightly; the downstream factories still maintained the need for purchasing, and the main stream of in-site neighbourhood 900-7200 yuan/ton, the main stream of negotiation of naphthalene method is 6500-6700 yuan/ton; the main market quotation of phthalic anhydride in North China is 6900-7100 yuan/ton, the market price is slightly lower, the quotation of some enterprises in North China is declining, downstream construction is general, purchasing on demand is dominant, wait-and-see mentality is strong, domestic phthalic anhydride is generally out of stock, manufacturers have increased. Plus, high-end transactions were blocked and phthalic anhydride prices fell.

Upstream: The execution price of domestic phenyl Sinopec is 6700 yuan/ton. Due to the overhaul of domestic phenyl manufacturers, the supply of goods on the site is tight, the price of phenyl remains high, the import phenyl market in the port area is stable, the recent market of phenyl in the port is good, the stock in the port is not high, the quotation of phenyl external market is temporarily stable, and the actual transaction price is in harmony with each other. In recent years, domestic phthalic anhydride market prices declined by a limited margin, supported by the upstream raw material price of phthalic anhydride.

Downstream: DOP prices remain volatile downstream, isooctanol prices remain stable, and DOP costs change little. DOP price is stable, DOP downstream demand is normal, customer purchasing enthusiasm is general, downstream PVC market volatility declines, DOP high-end transaction is blocked, DOP market mainstream transaction price 8050-8200 yuan/ton, terminal downstream price is lower, demand bears down the domestic phthalic anhydride market, phthalic anhydride market price slightly declined.

3. Future market forecast:

At present, the price of phthalic anhydride in the upstream is stable, terminal demand is decreasing, DOP price has a downward trend, and on-site profit is insufficient to support. Business analysts believe that the market price of phthalic anhydride may be slightly lower, with a price of about 7000 yuan/ton.