First, the trend of the market:

According to statistics, the price of phthalic anhydride declined slightly in March. At the end of the month, the price was 6750 yuan.ton, down 3.11% from 6966.67 yuan/ton at the beginning of the month and 6.01% from the same period last year. In Shandong province, phthalic anhydride is 6 600-6 800 yuan per ton, while in Jiangsu province, the main stream of phthalic anhydride negotiations is 6 800 yuan per ton. There is sufficient spot supply in the market. The naphthalene phthalic anhydride plant starts normally and is currently quoted at about 6 400 yuan per ton.

2. Market analysis:

Products: In March, the domestic market price of phthalic anhydride slightly declined, the market opening rate of phthalic anhydride was around 70%, the market of phthalic anhydride in East China was weak, downstream factories maintained just in need of purchasing, factory inventory pressure continued, high-end transactions were blocked, the mainstream of on-site neighbourhood source negotiations was 6600-6800 yuan/ton, and the mainstream of naphthalene source negotiations was 6400-6500 yuan/ton. The main market quotation is 6600-6800 yuan/ton. The market is weak and shocky. The quotation trend of enterprises is temporarily stable. The downstream construction is not high. The purchase is on demand. The wait-and-see mentality is strong. The domestic phthalic anhydride plant runs steadily, the spot supply of phthalic anhydride is sufficient, the market is not good, and the price of phthalic anhydride declines slightly.

Industry chain: In March, Sinopec’s execution price of phthalic anhydride upstream phthalic anhydride was 6800 yuan/ton, and the actual market transaction price was 7100 yuan/ton. The phthalic inventory of East China Port was stable, and the phthalic inventory of dock was about 20,000 tons. The external quotation of o-phenyl is stable, the external quotation of o-xylene in Europe is US$1000.00/ton FOB; the external quotation of o-phenyl in East Asia and Southeast Asia is stable, the cost of importing o-phenyl is stable, the external quotation of o-phenyl is stable, the upstream price trend is stable, and the market price of phthalic anhydride is slightly lower. DOP prices in the lower reaches fell in March, reaching 8366.67 yuan/ton at the end of the month, and fell slightly by 0.3% in March. Recently, in the DOP market in Zhejiang, merchants’quotations were maintained at 8300-8400 yuan/ton, while downstream prices were at a low level. Demand for upstream phthalic anhydride was limited, and the price of phthalic anhydride market declined slightly.

Industry: Recent plasticizer industry trend is general, terminal downstream demand is limited, phthalic anhydride market price trend slightly declined.

3. Future market forecast:

Recently, the price trend of phthalic anhydride in the upstream has not changed much. DOP prices in the downstream have declined. Phthalic anhydride analysts of business associations believe that the market price trend of phthalic anhydride in April may be low, and the price will be around 6700 yuan/ton.