The phthalic anhydride market remained sluggish in August
According to the Commodity Market Analysis System of Shengyi Society, as of August 28th, the price of phthalic anhydride produced by phthalic anhydride was 7587.50 yuan/ton, a decrease of 3.80% from the price of 7887.50 yuan/ton on August 1st. The prices of raw materials have been continuously falling, and the price of phthalic anhydride has slightly declined several times in August, resulting in a sustained downturn in the phthalic anhydride market. At the end of August, domestic ortho phthalic anhydride was priced at 7500-7700 yuan/ton before leaving the factory, while domestic nano phthalic anhydride was priced at 7100-7300 yuan/ton before leaving the factory.
Supply side: Stable supply of goods
The operation of domestic phthalic anhydride plants is temporarily stable, with a production rate of about 60%. The spot supply of phthalic anhydride is stable, and the sales situation of phthalic anhydride manufacturers is average. In August, the price of industrial naphthalene stabilized strongly, and the market for naphthalene based phthalic anhydride stabilized. The market for ortho phthalic anhydride fell, and cost support decreased. The market for ortho phthalic anhydride fell.
The cost of raw material ortho benzene has dropped for three consecutive times
According to the Commodity Market Analysis System of Shengyi Society, as of August 28th, the price of ortho benzene was 7900 yuan/ton, a triple decline of 7.06% compared to the price of 8500 yuan/ton at the beginning of the month. The price of ortho benzene has fallen, and the cost of raw materials for phthalic anhydride has decreased, resulting in significant downward pressure on phthalic anhydride. Industrial naphthalene manufacturers have reduced their burden and pressure, resulting in a tight supply. Industrial naphthalene is experiencing a narrow range of price increases, and there is a strong willingness for the rise of naphthalene phthalic anhydride. Phthalic anhydride manufacturers are losing money, and they have a strong willingness to raise prices. The downward pressure on neighboring phthalic anhydride raw materials is increasing, and neighboring phthalic anhydride prices are weakly consolidating.
Demand side: DOP market hits bottom
According to the Commodity Market Analysis System of Shengyi Society, as of August 28th, the price of plasticizer DOP was 8761 yuan/ton, a decrease of 7.78% from the DOP price of 9500 yuan/ton on August 1st at the beginning of the month. Jinjiu is approaching, terminal demand is slowly recovering, raw material octanol prices have stopped falling and rebounded, costs have stopped falling, downstream customers’ enthusiasm for placing orders has rebounded, plasticizer transaction willingness has increased, and plasticizer DOP prices have stopped falling and rebounded.
Future forecast
According to the data analyst of Shengyi Society’s phthalic anhydride products, in terms of cost, the price of ortho xylene has fallen, and the cost of phthalic anhydride has decreased; In terms of demand, the downstream DOP market has rebounded and stopped falling, while the demand for plasticizers has slightly rebounded. In the future, with cost reduction and weak demand, it is expected that the neighboring phthalic anhydride market will remain weak and stabilize.
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