Domestic maleic anhydride prices continued to decline in September. As of September 30, the average quoted price of maleic anhydride was 5,450 yuan/ton (tax included), down 2.77% from 5,605 yuan/ton on September 1.
On the supply side: In early September, a total of 220,000 tons of equipment in Shandong and Hebei were overhauled, and the main factories limited shipments, which reduced market supply and increased maleic anhydride prices. In mid-September, the maleic anhydride market fell slightly. The previous Yantai auction had poor results and prices continued to fall. Recently, some manufacturers have limited sales, and maleic anhydride factory prices have risen, but supplier prices have remained stable overall. In late September, the maleic anhydride market fell overall. Maleic anhydride factories destocked before the holidays, which had limited support for the maleic anhydride market. Maleic anhydride’s downstream unsaturated resins had limited purchases of maleic anhydride, and the stocking atmosphere was poor. At the end of the month, Wanhua’s auction prices continued to rise, and ex-factory prices followed suit, but dealer quotations remained stable overall.
Upstream: The Shandong region’s benzene market experienced a volatile period in September. Prices fell in the first half of the month, rose in the middle, and then fell again in the second half of the month. On September 1, the price was 5,975.33 yuan/ton; on September 30, it was 5,848.67 yuan/ton, a 2.12% decrease from the beginning of the month.
In August, the domestic n-butane market price fluctuated upward.
On the downstream side: In mid-to-early September, the unsaturated resin market was mainly stable, the supply of unsaturated resin was sufficient, the downstream transactions were general, and the support for unsaturated resin was limited; in late September, the unsaturated resin market was weak, most of them had short-term suspension or load reduction plans during the National Day holiday, the downstream transactions were general, and the support for unsaturated resin was limited, and the market situation was weak.
During the National Day holiday, the price of n-butane, the upstream of maleic anhydride, fell, and the cost support of maleic anhydride was limited; but the production of the main downstream unsaturated resins has gradually resumed, which has provided certain support for the purchase of maleic anhydride; in addition, some maleic anhydride companies in Shandong have maintenance plans, and the previously shut down units have not resumed production, and the supply available in the main production areas is limited, which has a certain boosting effect on the maleic anhydride market. It is expected that the maleic anhydride market may rise slightly in the near future.
Post time: Oct-13-2025