According to the commodity analysis system of Shengyi Society, the domestic maleic anhydride market has seen a significant increase in recent times. As of March 23, the average market price of maleic anhydride remained at 8350 yuan/ton, an increase of 7.40% from 7775 yuan/ton on March 16.
On the supply side: The market for maleic anhydride fell last week and was significantly boosted at the beginning of this week, with prices from major factories continuing to decline; At the beginning of this week, Wanhua’s auction in East China saw a significant increase, with major manufacturers of maleic anhydride following suit. As of March 23rd, the factory price of solid anhydride in the maleic anhydride market in Shandong Province is around 8200 yuan/ton, while the factory price of liquid anhydride is around 8000 yuan/ton.
Upstream: Saudi Arabia’s CP price remained stable at $540/ton in March. Currently, geopolitical conflicts have affected subsequent butane transportation, resulting in high costs. At the beginning of the week, the international crude oil market rose, and the price of liquefied gas from Shandong refineries increased significantly. Domestic n-butane prices have risen to 7200 yuan/ton.
Downstream: The unsaturated resin market rose at the beginning of the week, mainly due to the significant increase in raw material maleic anhydride and the support of unsaturated resin costs. However, downstream enterprises are digesting their inventory and have a strong wait-and-see attitude, with procurement mainly focused on meeting basic needs.
According to the analyst of Shengyi Society’s maleic anhydride products, short-term domestic conflicts are still the main factor affecting the trend of maleic anhydride. The supply of raw material n-butane is tight, and the market has risen sharply, supporting the maleic anhydride market. However, the sustainability of downstream unsaturated resin high price orders is not good, and the recent maleic anhydride market may mainly fluctuate at a high level.
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