First, the trend of the market:

According to statistics, the price trend of phthalic anhydride remained low and volatile, with the price of phthalic anhydride at 5850 yuan/ton by the end of the weekend, down 26.59% from the same period last year. The main stream of phthalic anhydride negotiations in Shandong is 5800-5800 yuan/ton, and the spot supply in Jiangsu is 5800-6000 yuan/ton. The naphthalene phthalic anhydride plant starts normally, and the current quotation is 5300-5400 yuan/ton. During this period, the market price of phthalic anhydride has a short-term upward trend, but it is like a flash in the pan, and the price remains low all the time. Level.

II. Market analysis:

Products: Recently, the domestic market price of phthalic anhydride has maintained a low level, but the market of No. 22 has increased slightly due to the increase of orders from some manufacturers. However, the market of phthalic anhydride has not been propelled to continue to rise. The market opening rate of phthalic anhydride in the field has been maintained at about 70%, the spot supply of phthalic anhydride in the field is sufficient, the downstream factories have just needed to purchase and the factory Inventory situation is general, high-end transactions are blocked, the mainstream of on-site neighbourhood source negotiation is 5700-5900 yuan/ton, the mainstream of naphthalene source negotiation is 5300-5400 yuan/ton; the mainstream quotation of phthalic anhydride market in North China is 5700-5800 yuan/ton, the market price has not changed much, the quotation of enterprises in North China has increased slightly, downstream construction is not high, and purchasing on demand. Mainly, wait-and-see mentality is strong, domestic phthalic anhydride plant operation is stable, phthalic anhydride on-site goods generally, phthalic anhydride market prices have maintained a low level, phthalic anhydride market manufacturers have been in a loss stage, the recent loss price of 300-400 yuan/ton, while Nafa phthalic anhydride although there is profit space, but almost at the cost line. Nearby, the profit of phthalic anhydride market is difficult to improve.

Upstream: Recently, the execution price of phthalic anhydride upstream product, Sinopec o-phthalic acid, is 6000 yuan/ton, and the actual transaction price is about 6000 yuan/ton. This week, the quotation of o-phthalic anhydride is temporarily stable, and the port supply is general. The price of raw materials mixed xylene in the upstream of phthalic acid remained volatile, the turnover of phthalic acid was normal, the stock of phthalic acid in the port was low, the quotation of phthalic acid external market was temporarily stable, the actual transaction price of imported phthalic acid was discussed in detail, the upstream price trend remained stable, and the price trend of phthalic anhydride market slightly declined.

Downstream: DOP prices have remained low in the recent downstream. The domestic DOP market price is 7233.33 yuan/ton by the end of the weekend. Recently, DOP external quotation has been adjusted concussively. Overall, the price of plasticizer DOP external quotation has remained stable, and the market interest of DOP is limited. DOP external quotation in China is 915 US dollars/ton, which is stable with last month’s external quotation and 1185 US dollars/ton in Southeast Asia. DOP equipment in plasticizer enterprises has increased, supply is stable, DOP transactions are mostly at low prices, overall plasticizer DOP market is low volatile, DOP market in the future or maintain a low level, and DOP market in Zhejiang area recently. On the market, the price quoted by the merchants is around 7400 yuan/ton. The downstream price is at a low level. The demand for upstream phthalic anhydride is limited, and the market price of phthalic anhydride is slightly lower.

Industry: Recent plasticizer industry market remains at a low level, terminal downstream demand has not changed much, and the market price trend of phthalic anhydride has slightly declined.

3. Future market forecast:

At present, the price trend of phthalic anhydride in the upstream remains volatile, and the terminal demand is still off-season. At the same time, the measures of restricting production in some areas are in progress, combined with the trade war between China and the United States, and other factors, the demand side of the downstream refrigerant industry is difficult to improve. The phthalic anhydride market continues to be in a passive situation. Low volatility will be maintained with prices ranging from 5800 to 5900 yuan/ton.