1、 Price trend

Business agency: the price of maleic anhydride fell in November and rebounded at the end of the month

According to the data of business agency, as of November 30, the average offer price of maleic anhydride was 12400.00 yuan / ton (including tax), a decrease of 24.85% compared with 16500.00 yuan / ton on November 1.

On December 1, the maleic anhydride commodity index was 119.32, up 2.51 points from yesterday, down 24.00% from the highest point 157.00 in the cycle (2021-10-28), and up 133.14% from the lowest point 51.18 on April 14, 2020. (Note: the period refers to the period from September 1, 2011 to now)

2、 Analysis of influencing factors

In November, the market price of maleic anhydride fell sharply and rebounded at the end of the month. In November, the international crude oil fell violently and the domestic chemical price fell. The downstream unsaturated resin market fell as a whole, mainly in need of procurement. As of the 30th, the solid anhydride in Shandong was about 12000 yuan / ton, that in Jiangsu was about 12000 yuan / ton, that in Shanxi was about 12000 yuan / ton, that in Hebei was about 11500 yuan / ton, and that in South China was about 12500 yuan / ton.

International crude oil prices fell sharply in November. Firstly, since the middle of the year, the outbreak of the European epidemic has aroused investors’ concerns about the demand outlook, and oil prices began to enter the downward channel. Second, in order to deal with domestic inflation, the United States has been committed to suppressing the decline of oil prices. On the 19th, it announced that it would unite with multinational governments to release strategic oil reserves. Affected by supply expectations, oil prices are falling sharply. Finally, on the 26th, a new crown variant strain was found, causing market panic, market concerns about the recovery of future demand, a huge earthquake in the capital market, and oil prices fell sharply with the global stock market.

In November 2021, the hydrobenzene market fluctuated downward. The ex factory price in North China was 7580 yuan / ton at the beginning of the month and 6940 yuan / ton at the end of the month, with a monthly decrease of 8.44%. In November, the hydrobenzene market fluctuated in the first half of the month and decreased sharply in the second half of the month. Affected by the sharp decline of market price and the high price of raw material crude benzene, the operating rate of benzene hydrogenation enterprises continued to decline in November, and the maintenance and load reduction devices increased recently. Compared with pure benzene, the start-up and shutdown costs of hydrogenated benzene enterprises are lower, and most manufacturers schedule their production according to their profits.

3、 Future forecast

According to the maleic anhydride product analysts of business society, the domestic maleic anhydride market continued to decline in November, the price of downstream resin raw materials fell, the willingness to receive goods in the downstream was low, the hydrobenzene market was weak, and the market operation was cautious. The domestic maleic anhydride market rebounded at the end of the month, the maleic anhydride price was stable and upward, most of them closed and waited, and the manufacturer’s shipment slowed down. It is expected that the maleic anhydride market may rebound in December.