According to the commodity analysis system of Shengyi Society, the domestic maleic anhydride market has seen a significant increase in recent times. As of March 4th, the average market price of n-butane oxidation maleic anhydride remained at 5962.50 yuan/ton, an increase of 12.50% from 5300 yuan/ton on March 1st.

Supply side: Recently, the market for maleic anhydride has continued to rise significantly: the transaction price of Wanhua Auction in East China has continued to rise to 6120-6130 yuan/ton, with a three-day increase of 1140-1150 yuan/ton. The transaction situation is good, supporting the maleic anhydride market, and the prices of the main factories for maleic anhydride have continued to rise significantly. As of March 4th, the factory price of solid anhydride in the maleic anhydride market in Shandong is around 6200 yuan/ton, while the factory price of liquid anhydride is around 6000 yuan/ton.
Upstream: The Saudi CP price remained stable at $540/ton in March, but due to the expected closure of the Strait of Hormuz, sea transportation is affected, and the supply of imported liquefied petroleum gas may become tight. Considering the soaring freight and insurance costs, the actual landed cost of Saudi CP is moving away from paper calculations, and long-term expectations are still rising. Domestic n-butane prices have risen to 5350 yuan/ton.
Downstream: Recently, the unsaturated resin market has risen, mainly due to the significant increase in raw material styrene and maleic anhydride, supported by the cost of unsaturated resin, and the gradual resumption of work and centralized replenishment by end users, which has supported the unsaturated resin market; But some downstream enterprises have stocked up before the holiday, and procurement is mainly focused on maintaining essential needs.
Business Society’s maleic anhydride product analyst believes that in the short term, the maleic anhydride market may continue to rise due to the continued impact of geopolitical risk premiums, the strong push up of cost corrected butane, and the resumption of work of downstream unsaturated resins, which are the main players.