According to the Commodity Analysis System of Business Society, the domestic maleic anhydride market was mainly weak this week. As of February 29th, the average market price of n-butane oxidation maleic anhydride remained at 7179.80 yuan/ton, which was stable compared to February 26th.

In terms of supply: Currently, the main factories of maleic anhydride have stable quotations and sufficient supply. The market is highly wait-and-see, and new orders are limited. As of February 29th, the ex factory price of solid anhydride in Shandong region is around 6900 yuan/ton, and the ex factory price of liquid anhydride is around 6300 yuan/ton.

Upstream: The hydrogenation benzene market has fallen this week, and news of plant shutdowns in the downstream has been exposed, which is negative for the pure benzene market and the overall market atmosphere is weak. This week, the ex factory price of hydrogenated benzene dropped to 8300 yuan/ton, and the spot market followed suit.

This week, the international crude oil market has fluctuated upwards, with upstream naphtha market mainly consolidating at high levels, and n-butane market has recently slightly increased. As of February 29th, the price in Shandong is around 5200 yuan/ton.

Downstream aspect: Currently, the unsaturated resin market is gradually starting to operate, with sufficient market supply. The recovery of downstream demand is limited, mainly consuming early inventory, and overall market trading is average.

Business Society’s maleic anhydride product analyst believes that the current high price of maleic anhydride raw materials is supported by the cost of maleic anhydride; Limited downstream unsaturated resin trading and limited procurement of maleic anhydride; At present, the prices of the main factories for maleic anhydride remain stable, and it is expected that the maleic anhydride market will be mainly focused on consolidation and observation in the near future.