According to the monitoring of the business agency, the price trend of domestic phthalic anhydride in March fell sharply. As of the end of the month, the price of phthalic anhydride from o-phthalic method was 4500 yuan / ton, a sharp decline of 21.05% compared with 5700 yuan / ton at the beginning of the month, a year-on-year decline of 33.73%, and the price of phthalic anhydride reached a new low in nearly 10 years.

Since 2020, the price of domestic phthalic anhydride market has been falling continuously. The biggest negative factor is that the crude oil price plummeted in late March, resulting in a sharp drop in the price of downstream petrochemical products. The price of phthalic anhydride upstream raw material phthalic acid market is no exception. In March, the price of phthalic acid dropped by 25.86%, and the price of phthalic anhydride market continues to decline due to the sharp drop in raw material price. In addition, the operation of domestic phthalic anhydride manufacturers is normal, the operating rate of phthalic anhydride in the site is more than 60%, the domestic phthalic anhydride spot supply is sufficient, the sales peak season of the downstream plasticizer industry is over, the procurement is not active, the phthalic anhydride manufacturers are generally on the market, and the market price of phthalic anhydride is falling constantly. By the end of the month, the market price of phthalic anhydride and phthalic anhydride in East China has fallen sharply. Downstream factories purchase on demand, the factory inventory pressure has increased, and high-end transactions have been blocked. In East China, the main flow of negotiation of neighboring method’s source of goods is 4400-4600 yuan / ton, and the main flow of negotiation of naphthalene method’s source of goods is 4100-4300 yuan / ton. In North China, the main flow of quotation of phthalic anhydride market is 4400-4700 yuan / ton, with a strong wait-and-see mentality in phthalic anhydride market, coupled with the increase of buying Do not buy down mentality, phthalic anhydride trading market weakness, phthalic anhydride prices in March fell sharply.

In terms of industrial chain, the market of phthalic anhydride’s upstream raw material o-benzene and downstream DOP has declined to varying degrees. The price trend of o-benzene and DOP monitored by the business agency is as follows:

From the above trend chart, it can be seen that the price of o-benzene and DOP dropped significantly. The price of o-benzene fell by 25.86% in March, and the price of downstream DOP fell by 14.75% in March. The price of o-benzene and DOP both hit a new low in recent 10 years. By the end of 31 days, the execution price of Sinopec phthalic acid had dropped to 4300 yuan / ton, the import price of phthalic acid in the port area had dropped sharply, there were few transactions in the market, and the price of phthalic acid had dropped significantly, which undoubtedly became the biggest negative factor in phthalic acid market. The downstream DOP market price fell rapidly, DOP enterprises operated at low load, and the logistics and transportation gradually recovered in the near future. However, DOP manufacturers’ inventory was high, and the DOP market price fell sharply to 5800-6200 yuan / ton level. There was no good support in the upstream and downstream, and the market price of phthalic anhydride fell continuously.

On the whole, the international public health events have seriously affected the crude oil price. The short-term internal benefit of crude oil is insufficient, and the price keeps falling. The price of domestic petrochemical products is lower due to this impact. Business analysts believe that the price of phthalic acid is difficult to stop falling in the short term, and it is expected that the market price of phthalic anhydride will continue to slide in the short term.