According to the commodity analysis system of Shengyi Society, the domestic market for maleic anhydride rose in December and then fell back, resulting in an overall increase in prices. As of January 3rd, the average quoted price of maleic anhydride was 6460.00 yuan/ton (including tax), an increase of 3.19% compared to 6260.00 yuan/ton on December 1st.

On the supply side: In mid December, the production unit of maleic anhydride in Yantai unexpectedly shut down, causing a significant decline in the supply of liquid anhydride in the market. At the beginning of the week, the main factory price of maleic anhydride increased by 1000 yuan/ton, and the dealer quotation also increased. Production resumed in Yantai in the latter half of the year, and the supply of maleic anhydride in the market increased. The raw material n-butane market fell, and downstream market operations were cautious, with a strong wait-and-see sentiment. The prices of major maleic anhydride factories fell, and dealer quotes followed suit. As of January 3rd, the ex factory price of solid anhydride in Shandong region is around 6100 yuan/ton, and the ex factory price of liquid anhydride is around 5700 yuan/ton.

Upstream: The overall price of pure benzene decreased in December. The inventory of ports in East China is accumulating, and prices continue to be weak. Shandong’s local refining transactions are sluggish, and market prices have decreased. It is expected that the pure benzene market will be weak and volatile in the short term.

The international crude oil market fluctuated and rose in December, with n-butane market prices first rising and then falling. As of January 3, the price in Shandong was around 5150-5200 yuan/ton.

Downstream: The unsaturated resin market in December was affected by fluctuations in the raw material maleic anhydride market, and as the end of the year approached, some unsaturated resin companies had plans to halt prices. Unsaturated resin urgently needed to be purchased downstream, which limited support for unsaturated resin. Currently, unsaturated resin mainly relies on demand for maleic anhydride.

The analyst of Shengyi Society’s maleic anhydride products believes that downstream unsaturated resins maintain a strong demand and provide limited support for the maleic anhydride market; The upstream n-butane market of maleic anhydride has slightly increased, but currently the transaction volume of maleic anhydride is average, and the market has a strong wait-and-see sentiment. It is expected that the maleic anhydride market will mainly consolidate in a narrow range in the near future.