In October, the domestic maleic anhydride market rose first and then fell, with an overall downward trend, setting a new low point in 2024. As of October 31, the average price of maleic anhydride was 1.53% lower than that on October 1.
On the supply side: Henan and Hebei resumed production, but Qingdao has not yet resumed production; the original sharp rise during the National Day holiday in the first half of October pushed up domestic bulk commodities, and the resumption of production of unsaturated resins after the holiday led to an urgent need to replenish maleic anhydride, supporting the rise in the maleic anhydride market; in the second half of the month, the maleic anhydride operating rate increased, the supply increased, the prices of maleic anhydride main factories fell, and the dealers’ quotations followed the decline. The market was in a wait-and-see mood, and new orders were mainly followed up by urgent needs.
Upstream: The price of pure benzene continued to decline in October, falling by 13.08%.
In October, the international crude oil market fluctuated and the market price of n-butane declined.
Downstream: At present, the unsaturated resin market is mainly stable, and the downstream purchase of unsaturated resin is mainly based on rigid demand, which provides limited support for unsaturated resin, and the market is in a wait-and-see mood.
Downstream unsaturated resin maintains rigid demand as the main demand, which provides limited support for maleic anhydride market; the supply of maleic anhydride has increased, but the price of maleic anhydride has fallen to the annual low, and some factories have no intention to continue to sell at a low price. It is expected that the maleic anhydride market will be mainly consolidated in the near future.
Post time: Nov-04-2024