According to the Commodity Analysis System of Business Society, the domestic market for maleic anhydride continued to rise in December. As of December 30th, the average quoted price of maleic anhydride was 7860.00 yuan/ton (including tax), an increase of 10.70% from 7100.00 yuan/ton on December 1st.

In terms of supply: In early December, a local unit of maleic anhydride unexpectedly shut down, resulting in a tight supply of maleic anhydride; In addition, the northern rainy and snowy weather has hindered logistics, supporting the maleic anhydride market. In late December, the factory mainly executed preliminary orders, with tight spot prices. However, there was a strong wait-and-see sentiment downstream at the end of the month, and caution was exercised in chasing higher prices. As of December 30th, the factory price of solid anhydride in Shandong region is around 7700-7800 yuan/ton, and the factory price of liquid anhydride is around 7600-7700 yuan/ton.

Upstream aspect: The hydrogenation benzene market saw an overall upward trend in December. The ex factory price of hydrogenated benzene in North China was 7066.67 yuan/ton at the beginning of the month and 7183.33 yuan/ton at the end of the month, with a monthly increase of 1.65%. In December, the pure benzene market followed the overall trend of crude oil, falling first and then rising. In the first half of the month, it continued to decline, and in the second half, it steadily rose and recovered the month’s decline, ultimately closing up 8.03%. Sinopec’s listed price first fell and then rose, with a cumulative increase of 50 yuan/ton. The ex factory price of hydrogenated benzene fluctuated, and by the end of the month, mainstream manufacturers in the main production areas were executing 7200 yuan/ton, indicating a strong overall operation of the industrial chain.

In December, the international crude oil market was volatile, while the naphtha market was volatile and downward. Recently, the market for n-butane was volatile and downward. As of December 30th, the price in Shandong was around 5100-5200 yuan/ton.

Downstream: In December, the unsaturated resin market continued to rise due to the continuous rise in raw materials. However, towards the end of the year, downstream demand for resin was weak, and overall market trading was average, with cautious operations.

Business Society’s maleic anhydride product analyst believes that currently, the upstream hydrogenation benzene market of maleic anhydride is rising, and the cost of maleic anhydride is supported; Downstream unsaturated resin transactions are limited, and the market often follows the trend of entering the market; At present, the prices of the main factories of maleic anhydride remain stable, with the execution of preliminary orders being the main focus. The price of maleic anhydride is high, and downstream purchasing sentiment is average. It is expected that the maleic anhydride market will mainly consolidate at high levels after the holiday.