According to the Commodity Analysis System of Business Society, the overall domestic market for maleic anhydride has been declining recently. As of May 20th, the average market price of n-butane oxidation maleic anhydride remained at 7090 yuan/ton, a decrease of 0.14% compared to 7100 yuan/ton on May 13th.

In terms of supply: Recently, unsaturated resin factories have been cautious in restocking, with a focus on just in demand procurement and limited support for the maleic anhydride market; With the announcement of the first bidding results by Wanhua, the main factories of maleic anhydride have gradually lowered their execution prices. At present, the supply of maleic anhydride has increased, and downstream enterprises are mostly adopting a wait-and-see attitude. As of May 20th, the ex factory price of solid anhydride in Shandong region is around 6750 yuan/ton, and the ex factory price of liquid anhydride is around 6300 yuan/ton.

Upstream aspect: Recently, the ex factory prices of hydrogenated benzene in the market have remained stable, while the spot market prices have slightly decreased. In terms of supply, hydrogenated benzene enterprises have started operating lower recently, and the supply of hydrogenated benzene is slightly tight. Enterprises have a strong attitude of price support, and the ex factory prices have remained stable recently. In terms of demand, downstream enterprises are affected by profits, and it is expected that the operating rate will decline in the near future. The market expects a decline in future demand, and currently, downstream enterprises have a strong mentality of price pressure.

Recently, the international crude oil market has fluctuated and risen, with upstream naphtha prices falling and n-butane prices slightly rising. As of May 20th, the price in Shandong was around 5350 yuan/ton.

Downstream aspect: Currently, the production of unsaturated resin is stable, with limited transactions. Downstream demand is average, and the main focus is on continuing essential procurement, with weak consolidation of unsaturated resin.

At present, the price monitoring of maleic anhydride is at a low to medium level in one year, a low to medium level in two years, and a low to medium level in three years. According to the Commodity Analysis System of Business Society, the average price of maleic anhydride in the past three years is 9170.35 yuan/ton, with a median value of 11893.34 yuan/ton, a minimum value of 6120.00 yuan/ton, and a maximum value of 17666.67 yuan/ton. The bottom price difference (lower than the lowest historical price difference in the past three years) is 970 yuan/ton, and the top price difference (lower than the highest historical price difference in the past three years) is -10576.67 yuan/ton.

Business Society’s maleic anhydride product analyst believes that downstream unsaturated resins currently have limited procurement of maleic anhydride; In addition, Wanhua Maleic Anhydride is gradually bidding for shipments, and the supply of Maleic Anhydride in the market has increased. It is expected that the Maleic Anhydride market will be mainly weak in the near future.