2024.7.5-2024.7.12 The price of phthalic anhydride in Chinese market

From July 5th to July 12th, the price of phthalic anhydride in the Chinese market remained stable. As of July 12th, the quoted price for phthalic anhydride was 8087.50 yuan/ton, showing temporary stability compared to the price on July 5th. This represents a 0.47% increase from the price of 8050 yuan/ton on July 1st. The domestic market offers phthalic anhydride at a range of 7800-8100 yuan/ton from factories and naphthalene method phthalic anhydride at a range of 7450-7600 yuan/ton.

The operation of domestic anhydride devices has temporarily stabilized with an operating rate around 60%. Spot supply remains stable while manufacturers are generally steady. Industrial naphthalene prices experienced a decline this week, leading to stabilized volatility in the naphthalene anhydride market and subsequently stabilizing the phthalic anhydride market as well.

In terms of cost, recent crude oil prices have shown strong consolidation and o-xylene prices remain strong and stable, providing continued support for phthalic anhydride costs. On the demand side, fluctuations were observed in downstream DOP markets with poor demand for plasticizers; however, it is anticipated that market volatility for phthalic anhydride will stabilize in the future.