The phthalic anhydride market saw a slight increase in January

According to the Commodity Market Analysis System of Shengyi Society, as of January 7th, the price of phthalic anhydride in neighboring countries was 6612.50 yuan/ton, a slight increase of 0.19% compared to the price of 6600 yuan/ton on January 1st. Stable operation of phthalic anhydride equipment and stable supply of phthalic anhydride; Plasticizer companies are operating at a high level, and there is active demand for phthalic anhydride procurement, which supports the demand for phthalic anhydride. With stocking up before the Spring Festival, the demand for phthalic anhydride briefly increased.

Supply side: Adequate supply of goods

In December, the operating load of domestic phthalic anhydride plants remained stable at a high level, with 70% of phthalic anhydride manufacturers operating at full capacity. The supply of phthalic anhydride from manufacturers was stable, and the supply was sufficient.

The cost of raw materials for benzene in January is temporarily stable

According to the Commodity Market Analysis System of Shengyi Society, as of January 7th, the price of ortho xylene was 6700 yuan/ton, which is temporarily stable compared to the price of ortho xylene on January 1st at 6700 yuan/ton. In January, the price of ortho phthalic anhydride remained stable, and the cost of ortho phthalic anhydride stabilized. The downward pressure on ortho phthalic anhydride still exists. Industrial naphthalene prices are consolidating strongly, while the cost of naphthalene phthalic anhydride is stabilizing. The overall cost support for phthalic anhydride raw materials still exists.

Demand side: The DOP market fluctuated and rose in January

According to the Commodity Market Analysis System of Shengyi Society, as of January 7th, the DOP price was 8513.75 yuan/ton, a fluctuating increase of 3.49% compared to the DOP price of 8226.25 yuan/ton on January 1st. The profit of plasticizer DOP is high, and plasticizer enterprises are actively operating. The operating rate of downstream plasticizer enterprises is high. After the New Year’s Day holiday, they will replenish their inventory, and in addition, manufacturers will replenish their inventory before the Spring Festival. The demand for phthalic anhydride is supported by high demand, and the inventory of phthalic anhydride manufacturers is low. The upward support for phthalic anhydride still exists.

Future forecast

According to the data analyst of Shengyi Society’s phthalic anhydride products, in terms of cost, the price of ortho xylene is stabilizing, the price of industrial naphthalene is consolidating strongly, the cost of phthalic anhydride is stabilizing, and the downward pressure on phthalic anhydride cost is weak; In terms of demand, DOP manufacturers have high operating loads, coupled with stocking up before the Spring Festival, which provides strong support for phthalic anhydride demand. Overall, with limited cost support and significant downstream demand support, it is expected that the phthalic anhydride market will experience strong consolidation in the future.