The phthalic anhydride market remained weak and consolidated in June

According to the Commodity Market Analysis System of Shengyi Society, as of June 30th, the price of phthalic anhydride in neighboring countries was 6916.67 yuan/ton, a fluctuating decrease of 0.48% compared to the price of phthalic anhydride at 6950 yuan/ton on June 1st. In June, the price of phthalic anhydride first fell and then rose, and the price of industrial naphthalene fluctuated and fell. The cost support for phthalic anhydride weakened. In June, phthalic anhydride equipment was briefly overhauled, and the operating rate of phthalic anhydride enterprises decreased to about 6.50%. The supply of phthalic anhydride decreased, and the downstream plasticizer market fluctuated and consolidated. The operating load of equipment for plasticizer enterprises decreased significantly, and the demand support for phthalic anhydride weakened. Due to sufficient supply and weak demand, the price of phthalic anhydride fluctuated and fell in June.
Reduced cost support for phthalic anhydride and sufficient supply
In June, the price of ortho benzene fluctuated and fell. At the end of the month, Sinopec quoted a price of 7000 yuan/ton for ortho benzene, which first fell and then rose compared to 7100 yuan/ton at the beginning of the month. Industrial naphthalene prices have fluctuated and fallen, and the cost support for phthalic anhydride has weakened. In June, the phthalic anhydride equipment underwent a brief maintenance, and the operating rate of enterprises was consolidated. The operating rate of the domestic phthalic anhydride industry was about 6.5%, and the supply of phthalic anhydride was sufficient. The weakening of cost support and sufficient supply have weakened the support for the rise in phthalic anhydride prices in June.
Demand side: DOP prices fluctuate and consolidate
According to the Commodity Market Analysis System of Shengyi Society, as of June 30th, the DOP price was 8259.17 yuan/ton, fluctuating and consolidating compared to the June 1st DOP price of 8250.83 yuan/ton, with an increase of 0.10%. In June, DOP production decreased, and the operating rate of the plasticizer industry dropped below 60%. DOP prices remained stable at a high level, plasticizer production decreased, demand for phthalic anhydride weakened, and support for phthalic anhydride price increases weakened.
Future forecast
According to the data analyst of Shengyi Society’s phthalic anhydride products, in terms of demand, plasticizer companies have seen a decline in production, a decrease in plasticizer output, and weakened support for phthalic anhydride demand; In terms of supply, the production of phthalic anhydride enterprises has slightly decreased, and the supply of phthalic anhydride is sufficient. In the future, with sufficient supply and weak demand, it is expected that the price of phthalic anhydride will remain weak and consolidate.