According to the commodity analysis system of Shengyi Society, the domestic maleic anhydride market continued to decline in the first half of November, rebounded in the second half, and remained stable in early December. As of December 5th, the average bid price for maleic anhydride was 5250 yuan/ton (including tax), a decrease of 2.33% from 5375 yuan/ton on November 1st.
In terms of supply, the maleic anhydride market continued to decline in mid to early November, and the overall transaction situation of Wanhua auction was poor, with prices falling overall, providing limited support for the maleic anhydride market. The prices of major maleic anhydride factories also fell accordingly; In late November, the market for maleic anhydride continued to rise, with Wanhua’s auction prices continuing to rise, supporting the maleic anhydride market. The prices of major factories for maleic anhydride continued to rise, and coupled with the planned shutdown of facilities in Jiangsu, boosting the domestic maleic anhydride market, the maleic anhydride market continued to rise. As of December 5th, the factory price of solid anhydride in the maleic anhydride market in Shandong is around 4950 yuan/ton, and the factory price of liquid anhydride is around 4750 yuan/ton.
Upstream: In November, the price of pure benzene in the Shandong region fluctuated and rose. On November 1st, the price was 5172 yuan/ton; On December 5th, the price was 5254.33 yuan/ton, an increase of 1.59% from the beginning of the month. Recently, the spot market prices in East China have been mainly stable. Currently, industry players have positive expectations for the future of pure benzene, and the market is running strongly. Recently, the shipment situation in Shandong has been good, and there is good confidence in the market. The prices of local refining enterprises have slightly increased.
The overall price of n-butane in the domestic market increased in November, and as of December 5th, the price in Shandong was around 4620 yuan/ton.
Downstream: The weak consolidation of the unsaturated resin market in November is the main reason, and downstream procurement maintains rigid demand, with limited support for unsaturated resin.
Business Society’s maleic anhydride product analyst believes that as we enter December, the overall domestic market for maleic anhydride will mainly consolidate, and the Jiangsu plant plans to shut down in early December; The South China device shows a decrease in load performance; Wanhua’s auction results were poor, with prices overall declining and market wait-and-see sentiment increasing; In addition, the downstream unsaturated resin demand for maleic anhydride is mainly driven by procurement, and it is expected that the maleic anhydride market will mainly consolidate in the near future.