In September, the price of phthalic anhydride exceeded 10000 yuan
As of September 11th, the price of phthalic anhydride from neighboring countries was 10083.33 yuan/ton, an increase of 7.27% compared to the price of phthalic anhydride on September 1st, which was 9400 yuan/ton. This week, the phthalic anhydride market remained stable in the first half of the week, with a concentrated increase starting from September 9th. The price center of phthalic anhydride continued to shift upwards, reaching the high range of the year, with an average price exceeding 10000 yuan.
Rising raw material costs
The escalation of the game in the Middle East has led to a sharp rise in crude oil prices, which has been transmitted downstream. The strengthening of crude oil has driven up the prices of ortho xylene and industrial naphthalene. The listing price of ortho benzene has been raised to 9850 yuan/ton, and the price of industrial naphthalene has risen to 7700 yuan/ton. The cost of ortho phthalic anhydride and naphthalene phthalic anhydride has also risen synchronously, supporting the willingness of factories to raise prices.
Tightening of phthalic anhydride supply
The operating rate of the domestic phthalic anhydride industry has declined to 58%; The industry’s inventory is low, and most manufacturers maintain an oversold state. Holders of goods have a strong willingness to raise prices. Guangdong leads the creation of new production capacity for phthalic anhydride equipment, and there are expectations of resuming production and releasing new capacity in phthalic anhydride plants in southern China, which has suppressed market sentiment to some extent and limited support for phthalic anhydride price increases.
Insufficient demand support for phthalic anhydride
Downstream plasticizer production has slightly declined, with a focus on essential purchases and cautious pursuit of higher prices. Downstream consumers have obvious resistance to high levels of phthalic anhydride and only maintain small orders based on demand, unwilling to stockpile in large quantities.
Future forecast
Analysts believe that the sharp rise in raw material prices this week has pushed phthalic anhydride prices above 10000 yuan. However, the phthalic anhydride market is at a high level, with limited room for further significant upward movement, and weak downstream acceptance, increasing resistance to further price increases. The probability of high volatility in phthalic anhydride prices in the future is high. With the easing of the Middle East conflict and the decline in crude oil prices, there is a greater risk of a high-level drop in phthalic anhydride prices.