According to the commodity analysis system of Shengyi Society, the domestic maleic anhydride market rose in February and then fell back, with an overall slight decrease in prices. As of February 28th, the average bid price for maleic anhydride was 6560.00 yuan/ton (including tax), a decrease of 0.91% from 6620.00 yuan/ton on February 1st.

Supply side: In early February, maleic anhydride continued its upward trend in the second half of January, with no pressure on maleic anhydride inventory. Main factories continued to rise, and distributors followed suit; In mid to late February, due to limited downstream production, the market price of maleic anhydride continued to decline. At present, the market supply is normal, and downstream unsaturated resin manufacturers of maleic anhydride have seen an increase in production, mainly through on-demand procurement. As of February 28th, the factory price of solid anhydride in Shandong region is around 6300 yuan/ton, and the factory price of liquid anhydride is around 6000 yuan/ton.

Upstream: In February, the price of pure benzene first rose and then fell, with a slight overall decrease in price. There is still pressure on local refining and shipping in Shandong region, and the focus continues to decline, releasing inventory pressure. In the East China region, import arbitrage has had a certain impact on the East China market, leading to a decline in market prices.

In February, the international crude oil market fluctuated downwards, and the price of n-butane fluctuated upwards. As of February 28th, the price in Shandong was around 5250 yuan/ton.

Downstream: Recently, unsaturated resin companies have been operating slowly, and there is a strong demand for purchasing unsaturated resins downstream, which has limited support for unsaturated resins. Currently, the procurement of maleic anhydride for unsaturated resins is limited.

The analyst of Shengyi Society’s maleic anhydride products believes that recently, the main downstream resin of maleic anhydride has completed its replenishment, and the follow-up of new orders has slowed down. Unsaturated resins mainly maintain the essential demand for maleic anhydride, which has limited support for the maleic anhydride market; At present, the main factories producing maleic anhydride maintain stable prices, and it is expected that the maleic anhydride market will mainly consolidate in the near future.