According to the Commodity Analysis System of Business Society, the domestic maleic anhydride market continued to rise in September. As of September 19th, the average market price of n-butane oxidation maleic anhydride remained at 8859.80 yuan/ton, an increase of 22.71% compared to the price of 7220.00 yuan/ton on September 1st.
Rising Crude Oil Boosts Domestic Maleic Anhydride Market
The international crude oil market has continued to rise recently. The main reason is that the expectation of supply tightening has overshadowed concerns about slowing economic growth and increasing US inventory. Saudi Arabia and Russia have extended their plan to reduce crude oil supply by 1.3 million barrels per day until the end of the year, as the sustained supply gap caused by the production reduction is significant, which may lead to tight crude oil supply in the fourth quarter; According to a report released by the EIA on Wednesday, US crude oil inventories unexpectedly increased by 4 million barrels last week, with analysts expecting a decrease of approximately 1.9 million barrels; The demand for gasoline and diesel in the United States remains strong, especially with a significant increase in diesel futures.
Continuous rise in the market for n-butane and hydrogenated benzene drives up the domestic maleic anhydride market
On the upstream side, the hydrogenation benzene market continues to follow the trend of pure benzene, with little change in supply and a slight increase in operating rates. As of the 19th, the mainstream quotation range in the hydrogenation benzene market in East China is between 8800 to 8900 yuan/ton. Recently, the market for n-butane has continued to rise, with prices in Shandong ranging from 5600 to 5700 yuan/ton as of September 19th.
The rise of unsaturated resin market drives the domestic maleic anhydride market
Recently, the main raw material styrene in the downstream unsaturated resin market of maleic anhydride has continued to rise, boosting the resin market. Currently, the price of unsaturated resin is high, supporting the maleic anhydride market. As of the 19th, the solid anhydride in Shandong region is around 8800 yuan/ton, Jiangsu region is around 8800 yuan/ton, and South China region is around 9100 yuan/ton.
Business Society maleic anhydride product analysts believe that the current prices of raw materials for maleic anhydride, n-butane and hydrogenated benzene, are high, and the prices of downstream unsaturated resin are high under cost pressure. At present, dealers are actively shipping, and some enterprises are cautious in their operations. Factories mainly execute early orders, and it is expected that the maleic anhydride market will be mainly consolidated at a high level in the short term.