In April, the domestic maleic anhydride market fell first and then rose, with an overall increase. As of April 30, the average price of maleic anhydride was 2.59% higher than that on April 1.
Supply: Affected by US tariffs in mid-to-early April, domestic bulk commodities fell significantly, and the domestic maleic anhydride market factory execution price continued to fall. Maleic anhydride downstream unsaturated resin manufacturers purchased limited maleic anhydride, and the maleic anhydride was mainly replenished for rigid demand. In late April, Yantai Wanhua unexpectedly stopped production, and the maleic anhydride factory execution price rose sharply. Currently, Yantai Wanhua will be shut down until the end of May, Hengli Petrochemical has a low load, and Qingdao Refining and Chemical will start selling during the May Day holiday. As of April 30, the ex-factory price of solid anhydride in Shandong Province was around 6700RMB/ton, and the ex-factory price of liquid anhydride was around 6400RMB/ton.
Upstream: The market price of pure benzene fluctuated and fell in April. The market price fell in the first half of the month, fluctuated and rose in the middle of the month, and fell in the second half of the month.
In April, the international crude oil market fluctuated downward, and the market price of n-butane fell. As of April 30, the price in Shandong was around 5030-5100 RMB/ton.
Downstream: some unsaturated resin units were shut down during the May Day holiday, and the supply volume was relatively reduced. The downstream demand for unsaturated resin was justified, and the support for unsaturated resin was limited, and the market was in a wait-and-see mood.
The main downstream resins of maleic anhydride may be restarted one after another in the near future. At present, most of them are waiting and watching to stabilize prices, which has limited support for maleic anhydride market. In addition, the downward trend of crude oil market during the May Day holiday is bearish for the domestic maleic anhydride market. It is expected that the maleic anhydride market may decline in the near future.
Post time: May-08-2025