The phthalic anhydride market fluctuated and fell in October
According to the Commodity Market Analysis System of Shengyi Society, as of October 31, the price of phthalic anhydride in neighboring countries was 5950 yuan/ton, which fluctuated and fell from the price of phthalic anhydride on October 1, which was 6293.33 yuan/ton, and hit the lowest price of phthalic anhydride since March 2021. The price of phthalic anhydride has been declining for seven consecutive months, with a 5.46% drop in October, marking the largest monthly decline of the year.
In October, the prices of raw materials such as ortho benzene fell, industrial naphthalene prices weakly declined, and the cost of phthalic anhydride decreased. The equipment load of phthalic anhydride slightly rebounded in October, and the operating rate of phthalic anhydride enterprises increased. The supply of phthalic anhydride was sufficient, and the downstream plasticizer market fluctuated and fell. The equipment operating load of plasticizer enterprises decreased, and the demand support for phthalic anhydride weakened. Due to the decrease in costs and weak demand, the price of phthalic anhydride fluctuated and fell in October.
The cost of phthalic anhydride decreased in October
On October 31st, Sinopec quoted a price of 6300 yuan/ton for ortho benzene, a decrease of 100 yuan/ton or 1.56% from the price of 6400 yuan/ton on October 1st. The price of industrial naphthalene has fluctuated and fallen, the price of ortho benzene has fallen, and the cost of phthalic anhydride has decreased. The operating load of phthalic anhydride equipment has slightly increased, and the overall operating rate of phthalic anhydride enterprises has risen, indicating sufficient supply of phthalic anhydride.
Demand side: Downstream production decreases, DOP prices fluctuate and fall
According to the Commodity Market Analysis System of Shengyi Society, as of October 31st, the DOP price was 7009.16 yuan/ton, a fluctuating decrease of 4.86% compared to the DOP price of 7367.50 yuan/ton on October 1st. In October, DOP prices fluctuated and fell, with DOP companies operating at less than 60% capacity, resulting in a decrease in operating rates. Demand for phthalic anhydride was weak, and the downward pressure on phthalic anhydride increased.
Future forecast
The data analyst for phthalic anhydride products at Shengyi Society believes that in terms of demand, the DOP equipment load of plasticizer companies has decreased to less than 60%, resulting in a decrease in plasticizer production and a decrease in phthalic anhydride demand support; In terms of supply, the operating rate of phthalic anhydride enterprises has slightly increased, and the supply of phthalic anhydride is sufficient, but the support for the rise of phthalic anhydride is insufficient; In terms of cost, the price of ortho xylene has fallen, the price of industrial naphthalene has weakened, and the cost of phthalic anhydride has decreased. Overall, the cost of phthalic anhydride decreased in October, with weak demand and sufficient supply, resulting in a volatile decline in phthalic anhydride prices.
In late October, the operating rate of DOP enterprises slightly rebounded, DOP production increased, and demand for phthalic anhydride slightly rebounded. The operating rate of phthalic anhydride enterprises increased, and the expected production of phthalic anhydride increased, indicating sufficient supply of phthalic anhydride. In the future, with strong supply and demand, insufficient cost support, and limited downward space for phthalic anhydride prices, it is expected that phthalic anhydride prices will remain weak and consolidate at a low level.
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