Since mid September, prices of Phthalic anhydride have fallen. Cost is the main factor in the market decline.During the week, international crude oil hit a record low, the cost of aromatics collapsed, the commodity futures market plummeted, and under the influence of the raw material o-xylene downward adjustment, the market continued to dip.The downstream mentality is cautious. It prefers small orders. As the market continues to decline and prices at a new low., naphthalene phthalic anhydride losses are rising，forcing companies to stop and cut back.
Recent domestic phthalic anhydride industry chain capacity utilisation trend divergence, o-xylene and UPR are stable. DBP is also declining, but DOP is picking up.The domestic phthalic anhydride industry is operating at 60% capacity, down 2% from last week. This week, the ox base phthalic anhydride device load improved, Shandong Hongxin (60,000 tonnes/year) device recovered. Some naphthalene phthalic anhydride devices have restarted, but others have been parked.The downstream DOP plant was at 64% capacity, up 4% from last week. Some domestic units have restarted, leading to more industry starts.The downstream DOP plant was at 64% capacity, up 4% from last week. Some domestic units have restarted, leading to more industry starts.Downstream unsaturated resin plants were at 38% capacity, the same as last year. New plants started up as usual, and more was produced than last week.
The market is under pressure, but the price is low and the industry has low inventory, so there is a possibility of improvement. There are concerns about whether the commodity futures market will rebound.
(Source: Oilchem)