The phthalic anhydride market fluctuated and fell in November

According to the Commodity Market Analysis System of Shengyi Society, as of November 29th, the price of phthalic anhydride in neighboring countries was 6850 yuan/ton, a fluctuation of 2.32% compared to the price of 7012.50 yuan/ton on November 1st. The phthalic anhydride equipment is operating at a high level and stable, with sufficient supply of phthalic anhydride; The price of ortho benzene is weak and stabilizing, the cost of ortho phthalic anhydride is weak and temporarily stable, the price of industrial naphthalene is fluctuating and falling, and the cost support of naphthalene phthalic anhydride is weakened. Supply exceeds demand and cost support is insufficient, resulting in a fluctuating decline in phthalic anhydride prices.

Supply side: Adequate supply of goods

In November, the operating load of domestic phthalic anhydride plants remained stable, with about 70% of phthalic anhydride manufacturers starting production. The supply of phthalic anhydride from manufacturers was stable, and the supply of phthalic anhydride was sufficient.

The cost of raw material ortho benzene is temporarily stable

According to the Commodity Market Analysis System of Shengyi Society, as of November 29th, the price of ortho benzene was 6900 yuan/ton, which was temporarily stable compared to the price of ortho benzene at 6900 yuan/ton on November 1st, but decreased by 2.82% compared to the price of ortho benzene at 7100 yuan/ton in late October. In November, the price of ortho benzene remained weak and temporarily stable, while the cost of ortho phthalic anhydride remained stable. The downward pressure on ortho phthalic anhydride still exists.

Demand side: November DOP market trend first rises and then falls

According to the Commodity Market Analysis System of Shengyi Society, as of November 29th, the DOP price was 9038.75 yuan/ton, which first increased and then decreased by 0.69% compared to the DOP price of 9101.25 yuan/ton on November 1st; Compared to November 14th, the DOP price of 9551.25 yuan/ton fluctuated and fell by 2.63%. In November, the price of isooctanol briefly rose, and the cost of plasticizers increased. As the price of isooctanol decreased, the cost of plasticizers also decreased, and PVC product companies gradually declined in production. Entering November, the traditional off-season in the market, downstream PVC production is expected to decline. As the weather in the north gradually turns cold, demand is weak; The downstream market is declining, and the downward pressure on plasticizers is increasing. The expected operating rate of plasticizer enterprises has decreased, and plasticizer manufacturers have weak demand for phthalic anhydride. The support for phthalic anhydride demand has weakened, and the downward pressure on phthalic anhydride has increased.

Future forecast

According to the data analyst of Shengyi Society’s phthalic anhydride products, in terms of cost, the price of ortho xylene is weak and temporarily stable, while the cost of phthalic anhydride is weak and stabilizing; In terms of demand, the expected operating load of DOP manufacturers has decreased, and downstream support for phthalic anhydride has weakened. Overall, costs are temporarily stable, demand is cold, and it is expected that the market for phthalic anhydride will weaken and decline in the future.