Since late August, the domestic market price of phthalic anhydride with o-phthalic acid method has risen significantly. Up to now, the price of phthalic anhydride with o-phthalic acid method has been quoted at 10300 yuan/ton, with a monthly increase of 27.16%. The sharp increase in price is mainly due to the combined impact of tight supply and cost support.

Supply side: shortage of goods due to equipment maintenance

Recently, the supply of goods in the phthalic anhydride plant is tight. Some domestic devices have been overhauled. The 120000 ton phthalic anhydride plant in Tongling, Anhui Province has been shut down for overhaul for about a month, and the 100000 ton phthalic anhydride plant in Xinyang Group has been shut down. It is estimated that the start-up and restart will be carried out after the National Day holiday. Affected by the overhaul of the devices, the domestic phthalic anhydride operating rate will decline to below 50%. The domestic spot supply of phthalic anhydride is tight, and the price of phthalic anhydride in the plant will rise sharply, The market price of phthalic anhydride in East China is 10200-10400 yuan/ton, and the market price of phthalic anhydride in North China is 10100-10300 yuan/ton.

Cost end: the price of raw ortho benzene has risen significantly

The price of ortho benzene rose sharply in late August. As of September 22, the price of ortho benzene was 9000 yuan/ton, with a monthly increase of 12.5%. According to the manufacturer’s response, the supply of raw materials ortho benzene is tight in the near future, ortho benzene manufacturers are not enough to start construction, the factory has been shut down for maintenance, and phthalic anhydride manufacturers are hard to find supplies. The 160000 t/a ortho benzene unit of Zhenhai Refining and Chemical Co., Ltd. began to reduce the load gradually at the end of August, and the maintenance is expected to last for 3 months; Fuhaichuang 240000 t/a o-benzene plant has been shut down since the end of June; The 40000 t/a phthalic acid plant of Luoyang Petrochemical stopped production. In addition, the import volume of phthalic acid is not large, and the inventory of main ports has dropped to 8000 tons. The supply of phthalic acid is tight, which restricts the production of phthalic anhydride manufacturers. In addition, the price of phthalic acid has risen significantly. Supported by the favorable cost factors, the phthalic anhydride market has risen significantly.

Demand side: plasticizer market improved, DOP price rose sharply

The downstream DOP market price of phthalic anhydride is rising. At present, the domestic DOP price is 10280 yuan/ton, with a monthly increase of 13.59%. The domestic DOP enterprises have started to work, and the demand for phthalic anhydride has increased. The mainstream DOP price is 10200-10400 yuan/ton. The rising downstream market is a good support for the phthalic anhydride market, and the price of phthalic anhydride has risen significantly.

Looking at the future market: Recently, the port’s ortho xylene inventory is still in storage, domestic ortho xylene manufacturers have more maintenance, the short-term supply of ortho xylene continues to be tight, the downstream plasticizer industry has improved, and the actual demand has increased compared with before. In addition, the supply of phthalic anhydride is tight, so there are still positive factors, and the market price of phthalic anhydride may still rise in the future.