According to the commodity analysis system of Shengyi Society, the overall domestic market for maleic anhydride rose in February. As of February 28th, the average quoted price of maleic anhydride was 5300.00 yuan/ton (including tax), an increase of 0.71% from 5262.50 yuan/ton on February 1st.
In terms of supply: In early February, the market for maleic anhydride was weakly consolidated, and the bidding prices of Wanhua fell. The transaction situation was average, and the support for the maleic anhydride market was limited. The prices of the main factories for maleic anhydride continued to fall. In addition, downstream unsaturated resins were gradually shut down and put on vacation, resulting in a gradual decrease in demand for maleic anhydride; After the holiday, the bidding price of Wanhua continued to rise, and the transaction situation was good, which supported the maleic anhydride market. The prices of the main factories of maleic anhydride increased, but the downstream unsaturated resin is still in the early stage of resuming production, and new orders are limited. As of February 28th, the solid anhydride market in Shandong Province operates around a factory price of 5000 yuan/ton, while the liquid anhydride market operates around a factory price of 4750 yuan/ton.
Upstream: In February, the price of pure benzene in the Shandong region fluctuated and fell. On February 1st, the price was 6168.67 yuan/ton; On February 28th, the price was 6160 yuan/ton, a decrease of 0.43% from the beginning of the month. International crude oil futures have risen, while the price of pure benzene in foreign markets has fluctuated. The confidence in the domestic pure benzene market is average. Shandong pure benzene ground refining has poor shipments, and some manufacturers have slightly lowered their shipping prices.
The n-butane market fluctuated upward in February, with Saudi CP prices continuing to rise by $20 to $540 per ton. The naphtha market in February first rose and then fell, with Shandong n-butane prices at around 4550 yuan per ton as of February 28th.
Downstream: Prior to the Spring Festival, the main downstream unsaturated resin of maleic anhydride gradually stopped and went on vacation, resulting in a decrease in demand for maleic anhydride; After the holiday, the unsaturated resin market has resumed work gradually, and the market situation is mainly wait-and-see, with limited support for unsaturated resin.
Business Society’s maleic anhydride product analyst believes that the main downstream unsaturated resin of maleic anhydride is gradually resuming work; There is currently no inventory pressure from maleic anhydride manufacturers, and it is expected that the maleic anhydride market may have an upward trend in the near future.
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