Recently, domestic phathalic anhydride market presents consolidation trend, the market is difficult to rise all difficult, operators are more cautious wait-and-see attitude. Near the end of the year, the market is still full of many uncertain factors, purchase caution, cost pressure and the downstream state of the market, the later stage of the benzene anhydride market will be interpreted, will be analyzed as follows.
Phathalic anhydride manufacturer has no stock pressure basically, the market surplus problem is solved. In the process of the bottom of the benzene anhydride industry, the market volume has been released, coupled with the benzene anhydride industry export situation is OK, the external transfer of excess pressure, for the release of domestic destocking good. With the delivery restrictions in Hebei, and the delivery of logistics or early closure news, a wave of replenishing, mostly for naphthalene phthalic anhydride. Therefore, under the condition of conscious stocking and export, the inventory of various manufacturers has been cleared to a certain extent. It is expected that the situation of less goods will continue, and low inventory will support the market to a certain extent.
The raw material level is lowered, and the risk is difficult to eliminate in the later stage. On January 11, Sinopec’s o-benzene reduction was 300 yuan to implement self-extraction of 4,700 yuan/ton. On January 12, the bidding for industrial naphthalene failed. On January 19, the auction of industrial naphthalene was cancelled. Although the profit margin of the phthalic anhydride industry has been released to a certain extent with the weakening of raw materials, the cost support is also weakened, which negatively restricts the phthalic anhydride market.
There are many changes in the downstream, and the demand for pahthalic anhydride remains unchanged. The recent trends of major downstream plasticizers DOP and DBP have fluctuated too frequently. As far as the recent market is concerned, they have just experienced a wave of downward trends. However, the decline of DOP and DBP has slowed down on the basis of the slowdown of butanol. Generally facing cost pressures, resistance to phthalic anhydride is maintained, and the end of the year is approaching, and the market is full of uncertainties. On the basis of avoiding risks, it is also cautious to purchase raw materials for production, so phthalic anhydride is mostly purchased on demand.
As the Spring Festival is approaching, the terminal has entered a holiday state one after another, and the possibility of logistics ending earlier is also increasing. However, based on the low level of phthalic anhydride, there is already a wave of stockings. The expected release of later trading volume is not too good, but the phthalic anhydride is less. The situation continues, so there is no lack of certain trials and prices, but due to downstream constraints, it may be difficult to make obvious waves.
exp1@gzchem.com 2021-1-21