1、 Price trend

Business agency: the price of maleic anhydride declined in June as a whole

According to the data of business agency, the average price of maleic anhydride offer as of June 30 was 9650.00 yuan / ton (including tax), down 1.53% compared with 9800.00 yuan / ton on June 1.

On June 29, the maleic anhydride commodity index was 89.96, which was flat with yesterday, down 27.26% from the highest point 123.67 in the cycle (2017-12-26), up 75.77% from the lowest point of 51.18 on April 14, 2020（ Note: period refers to the period from September 1, 2011 to now

2、 Analysis of influencing factors

In June, the market price of maleic anhydride fell as a whole, and the international crude oil rose, leading to the rise of domestic chemical prices, the lower unsaturated resin commencement rate, strong wait-and-see sentiment in the resin market, and the purchase was required. As of the 30th, the solid anhydrides in Shandong Province were about 9800 yuan / ton, that of Jiangsu Province was about 9700 yuan / ton, that of Shanxi was about 9800 yuan / ton, that of Hebei Province was about 9800 yuan / ton, and that of South China was about 9800 yuan / ton.

International crude oil fluctuated, international economy in multiple regions recovered gradually, vaccination in the United States continued to increase, US crude oil demand ushered in a peak season, the expectation of recovery of European and American demand boosted the crude oil market, and OPEC + alliance continued to adhere to the measures of gradually resuming supply in June-July, offsetting the risk of oil price support caused by the consensus reached in the negotiation of the US Iraq nuclear agreement.

At present, affected by environmental factors, the downstream unsaturated resin commencement rate is down, the resin market is in a strong wait-and-see mood, and it is just to be purchased.

According to the monitoring of the business society, the overall operating rate of hydrogenation benzene enterprises in June was about 80%, up from last month, most of the units started normally, and some of the early shutdown units had restart plans. At present, the price of hydrobenzene is high. As of June 30, the price of hydrogenated benzene in North China is 7950.00 yuan / ton, the profits of the enterprise have improved, and the production and sales are positive. The start-up and parking cost of hydrogenation benzene enterprises is lower than that of pure benzene, and most of the manufacturers are discharged according to the profit. The price of Shandong Province is 4200 yuan / ton for n-butane.

3、 Future forecast

Analysts of maleic anhydride products of the business society believe that: the international crude oil rose and the market cost of maleic anhydride was supported. Although the downstream resin demand continued to be weak, it was just needed to support, and the trend of maleic anhydride market price is expected to rise in the near future.