Maleic anhydride market downturn (5.8-5.14)

According to data from Business News Agency, the domestic maleic anhydride market has been declining this week. As of May 14, the average market price of n-butane oxidation maleic anhydride remained at 7370.00 yuan/ton, a decrease of 2.90% compared to May 8′s price of 7590.00 yuan/ton, and a decrease of 7.18% compared to the same period last month.


Gamma-PGA (gamma polyglutamic acid)

On May 14th, the maleic anhydride commodity index was 69.43, unchanged from yesterday, a decrease of 58.28% from the cycle’s highest point of 166.43 points (2021-12-15), and an increase of 35.66% from the lowest point of 51.18 points on April 14th, 2020. (Note: The cycle refers to the period from September 1st, 2011 to the present)


At present, the domestic benzene based maleic anhydride market is gradually starting to operate. Recently, the downstream resin market has been weak, and the enthusiasm for replenishment of maleic anhydride is average. The international crude oil market is weak, coupled with a significant decline in the price of raw material n-butane, and the maleic anhydride market continues to decline. As of the 14th, the solid anhydride in Shandong region is around 6800 yuan/ton, Jiangsu region is around 6800 yuan/ton, and South China region is around 7200 yuan/ton.


On the upstream side, the price of pure benzene fell this week, with an average price of 7190 yuan/ton on May 8th and 7110 yuan/ton on May 12th, a decrease of 4.24%. The factory price of hydrogenated benzene in North China has been lowered, from 7200 yuan/ton last weekend to 7066.67 yuan/ton this weekend, a decrease of 1.85%. The market for n-butane has significantly declined this week, with prices in Shandong reaching around 4700 yuan/ton as of May 14th.


Business Society maleic anhydride product analysts believe that the current market for n-butane in the upstream of maleic anhydride has significantly declined, while the downstream resin market is weak. In addition, the international crude oil market is weak, resulting in a strong wait-and-see sentiment in the market. It is expected that the maleic anhydride market will be dominated by consolidation in the near future.