1、 Price trend

According to the data of business agency, the domestic maleic anhydride market price fluctuated upward this week. As of June 26, the average price of maleic anhydride by benzene hydrogenation remained at 10633.33 yuan / ton, up 1.92% from the price of 10433.33 yuan / ton on June 20 and 2.90% from the same period last month.

On June 26, the maleic anhydride commodity index was 100.17, unchanged from yesterday, down 39.81% from the highest point of 166.43 in the cycle (December 15, 2021), and up 95.72% from the lowest point of 51.18 on April 14, 2020. (Note: the period refers to the period from September 1, 2011 to now)

2、 Analysis of influencing factors

This week, the domestic benzene maleic anhydride market started at a low level. In the near future, the downstream unsaturated resin market is generally started, and the rigid demand is the main factor. As of the 26th, the solid anhydride in Shandong was about 9000 yuan / ton, that in Jiangsu was about 9000 yuan / ton, that in Shanxi was about 9500 yuan / ton, that in Hebei was about 9500 yuan / ton, and that in South China was about 9500 yuan / ton.

On the upstream side, pure benzene continued its decline this week, with a continuous decline. On June 17, the average price of pure benzene was 9884 yuan / ton, and on June 24, the average price was 9559 yuan / ton, down 3.29% from last week. At present, there is a certain price difference between SINOPEC and local refining enterprises. The price of pure benzene rebounded slightly in the middle of the week, boosted by some downstream transactions. However, the downstream styrene weakened and the overall market mentality was poor. The price continued to decline slightly at the weekend. This week, the ex factory price of hydrogenated benzene in North China decreased from 9675 yuan / ton last weekend to 9500 yuan / ton this weekend, a weekly drop of 1.81%. As for n-butane, the price in Shandong was 6120 yuan / ton as of June 26.

3、 Aftermarket forecast

According to the maleic anhydride product analysts of the business club, the benzene oxidation process in the domestic maleic anhydride market is suffering from serious losses, the plant has been shut down for maintenance, the market circulation source is small, and the n-butane oxidation process has declined recently. The market of downstream resin manufacturers has been sorted out, and the terminal is not significantly favorable. It is expected that the maleic anhydride market will be mainly sorted out in the near future.