According to the commodity analysis system of Shengyi Society, the domestic maleic anhydride market first fell and then rose in April, with an overall increase. As of April 30th, the average bid price for maleic anhydride was 6920.00 yuan/ton (including tax), an increase of 2.59% from 6750.00 yuan/ton on April 1st.
On the supply side: In mid to early April, due to the impact of US tariffs, there was a significant decline in domestic bulk commodities, and the factory execution prices in the domestic maleic anhydride market continued to fall. Downstream unsaturated resin manufacturers of maleic anhydride had limited procurement, and they mainly replenished their demand for maleic anhydride. In late April, Yantai Wanhua unexpectedly shut down, and the price of maleic anhydride factory increased significantly. At present, Yantai Wanhua is parked until the end of May, and Hengli Petrochemical has a low load. Qingdao Refining and Chemical will start selling during the May Day holiday. As of April 30th, the factory price of solid anhydride in Shandong region is around 6700 yuan/ton, and the factory price of liquid anhydride is around 6400 yuan/ton.
Upstream: Pure benzene market prices fluctuated and fell in April. The market price fell in the first half of the year, fluctuated and rose in the middle, and fell in the second half. On April 1st, the price was 6659.67 yuan/ton; On April 29th, the price was 5785.33 yuan/ton, a decrease of 13.13% from the beginning of the month.
The international crude oil market fluctuated downward in April, and the price of n-butane in the market decreased. As of April 30th, the price in Shandong was around 5030-5100 yuan/ton.
Downstream: During the May Day holiday, some unsaturated resin plants were shut down, resulting in a relative decrease in supply. Unsaturated resin was urgently needed for downstream procurement, which limited support for unsaturated resin and led to a strong market wait-and-see sentiment.
The analyst of Shengyi Society’s maleic anhydride product believes that the main downstream resin of maleic anhydride may restart gradually in the near future. Currently, the focus is on stabilizing prices and observing, which has limited support for the maleic anhydride market. In addition, the downward trend of crude oil market during the May Day holiday is not good for the domestic maleic anhydride market. It is expected that the maleic anhydride market will decline in the near future.
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