1、 Price trend

According to the data of business agency, the domestic market price of maleic anhydride fell sharply this week. As of December 26, the average price of benzene hydrogenation maleic anhydride remained at 14600.00 yuan / ton, down 13.27% from the average price of 16833.33 yuan / ton on December 20, up 22.35% from the same period last month.

On December 26, the maleic anhydride commodity index was 137.54, the same as yesterday, down 17.36% from the highest point of 166.43 in the cycle (2021-12-15), and up 168.74% from the lowest point of 51.18 on April 14, 2020. (Note: cycle refers to from September 1, 2011 to now)

2、 Analysis of influencing factors

The domestic benzene maleic anhydride market started steadily this week. The recent commencement of the downstream unsaturated resin market is relatively stable, mainly the implementation of early orders, and the purchasing sentiment is general. As of the 26th, the solid anhydride in Shandong was about 14000 yuan / ton, that in Jiangsu was about 14000 yuan / ton, that in Shanxi was about 14000 yuan / ton, that in Hebei was about 14000 yuan / ton, and that in South China was about 14000 yuan / ton. The domestic market price of maleic anhydride fell sharply this week, and the downstream mainly digested the high price orders in the early stage. The demand just slowed down, the transaction was light, and the wait-and-see mood was strong.

Upstream, pure benzene fell first and then rose this week. The average price of pure benzene was 6620 yuan / ton on December 19 and 6830 yuan / ton on December 26, an increase of 210 yuan / ton or 3.17% over last week. This week, the market price of hydrobenzene in North China fell, from 6825.00 yuan / ton on December 20 to 6512.50 yuan / ton on December 26, down 4.58%. In terms of n-butane, the price in Shandong was 4770.00 yuan / ton as of December 26.

According to the price monitoring of the business community, in the list of commodity prices rising and falling in the 51st week of 2021 (12.20-12.24), there are 37 kinds of commodities rising month on month in the chemical sector, including 5 kinds of commodities rising by more than 5%, accounting for 4.8% of the monitored commodities in the sector; The top three commodities were caustic soda (13.07%), isooctanol (7.93%) and isobutyraldehyde (5.81%). A total of 37 kinds of commodities decreased month on month, and 4 kinds of commodities decreased by more than 5%, accounting for 3.8% of the monitored commodities in this sector; The products with the top three declines were maleic anhydride (- 13.27%), crude benzene (- 6.79%) and diethylene glycol (- 6.52%). Both rose or fell by 0.04% this week.

3、 Future forecast

Analysts of maleic anhydride products of business society believe that at present, the domestic maleic anhydride market price has fallen sharply, and the downstream mainly digests the high price orders in the early stage. The just need to slow down, the transaction is light, and the wait-and-see mood is strong. At present, the domestic maleic anhydride spot is tight, but the Jiangsu and Zhejiang regions are expected to ship in early January, and the supply will increase. It is expected that the maleic anhydride market may continue to decline in the near future.