1、 Price trend
| Thiourea |
Business agency: domestic maleic anhydride market declined after rising in September
According to the data from the business community, the average price of maleic anhydride as of September 30 was 8400.00 yuan/ton (tax included), up 7.97% from 7780.00 yuan/ton on September 1.
2、 Analysis of influencing factors
In September, the domestic benzene maleic anhydride market continued to shut down. The accident in Shandong Dachang in early September, coupled with downstream enterprises entering the stocking cycle before the National Day, led to the continuous rise in the price of n-butane oxidation maleic anhydride. In late September, the supply of n-butane oxidation maleic anhydride increased, and the downstream entered the pre holiday stocking cycle. However, the resin purchasing mood was general, the stocking was cautious, and the transaction was limited. The price of maleic anhydride continued to decline. As of the 30th, the solid anhydride in Shandong was about 7500 yuan/ton, that in Jiangsu was about 7500 yuan/ton, that in Shanxi was about 9500 yuan/ton, that in Hebei was about 8000 yuan/ton, and that in South China was about 7700 yuan/ton.
In September, the trend of international crude oil prices was volatile and downward. The decline of crude oil prices was mainly due to the trade-off between the supply risk of Russian oil and the concern about economic recession caused by the Federal Reserve leading the global central bank to raise interest rates. The US strategic oil reserves fell continuously, hitting a 38 year low. OPEC+, an oil producing country, will increasingly demand for reducing inventory and increasing oil prices, and its idle capacity has been very limited, so it will be very difficult to increase production in the later period. Moreover, Western sanctions against Russia are still escalating, the effective period of the oil shipping ban is getting closer and closer, and the supply side is still on the high side in the near future.
In September, the market of hydrogenated benzene rose first and then fell. The ex factory price in North China was 7633.33 yuan/ton at the beginning of the month and 7900 yuan/ton at the end of the month, up 3.49% month on month. Near the end of the month, the bad news from crude oil and styrene dominated, while the downstream stock preparation was basically ended, the market transaction weakened, and the price fell.
3、 Future market forecast
Maleic anhydride product analysts from the business community believed that the domestic maleic anhydride market rose in September and then fell. At present, the benzene oxidation process in the domestic maleic anhydride market has suffered a serious loss. The factory has been shut down for maintenance, and there is less circulating goods in the market. At the beginning of September, Shandong Dachang had an accident. The supply of maleic anhydride by n-butane oxidation method decreased. In addition, downstream enterprises entered the stocking cycle before the National Day one after another. The price of maleic anhydride continued to rise, and the supply of maleic anhydride increased at the end of the month. Downstream procurement was basically ended. Resin procurement was in a general mood, stock was cautious, and transactions were limited. The price of maleic anhydride continued to decline. It is expected that the maleic anhydride market will be weak in the near future.
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