According to the Commodity Analysis System of Business Society, the market for maleic anhydride has continued to decline recently. As of October 24th, the average market price of n-butane oxidation maleic anhydride remained at 7610.00 yuan/ton, a decrease of 4.64% from the price of 7980.00 yuan/ton on October 16th.
The fluctuation and downward trend of crude oil market has limited support for the domestic maleic anhydride market
The international crude oil market has been fluctuating and declining recently. On the one hand, macroeconomic pressure and the Federal Reserve’s interest rate hike have not yet been determined, and the peak oil consumption season in North America is gradually coming to an end. The bearish demand situation has correspondingly suppressed the crude oil market. On the other hand, multiple countries have strengthened diplomatic efforts on the geopolitical situation in the Middle East to alleviate concerns about geopolitical issues. This news supports international oil prices; On the last hand, the United States announced a suspension of its sanctions against OPEC member states.
Hydrogenated benzene market fluctuates, and n-butane trend drops sharply
Upstream aspect: The hydrogenation benzene market has recently experienced a narrow range of fluctuations, with crude oil fluctuating downward and the industrial chain fluctuating less significantly. In the future, downstream demand still exists, and the market still follows the market trend. As of the 24th, the mainstream quotation range in the hydrogenation benzene market in East China is between 7950 to 8000 yuan/ton. Affected by the downward trend of crude oil fluctuations, the recent market for n-butane has significantly declined, and as of October 24th, the price in Shandong is around 5200-5400 yuan/ton.
The downward trend of unsaturated resin market has limited support for the domestic maleic anhydride market
Downstream: Recently, maleic anhydride has continued to decline, and there is a strong wait-and-see sentiment in the downstream unsaturated resin market. In addition, the current resin supply is weak and trading is poor, resulting in an overall downward trend in the unsaturated resin market.
Business Society maleic anhydride product analysts believe that the current raw material of maleic anhydride, n-butane, has significantly declined, and the cost support for maleic anhydride is limited; Downstream unsaturated resin market is weak, operation is cautious. The fundamentals are weak, and the factory price of maleic anhydride continues to decline. Downstream wait-and-see sentiment is strong, and dealers continue to fall. It is expected that the maleic anhydride market may continue to decline in the short term.
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