According to the commodity analysis system of Shengyi Society, the overall domestic market for maleic anhydride rose in March. As of March 31st, the average quoted price of maleic anhydride was 6790.00 yuan/ton (including tax), an increase of 3.19% from 6580.00 yuan/ton on March 1st.

Supply side: In March, the spot supply of maleic anhydride in the market was tight, and downstream unsaturated resin manufacturers of maleic anhydride mainly maintained stable production. Due to the rise in raw material prices, unsaturated resins slightly increased, and the replenishment of maleic anhydride was mainly for urgent needs. At present, the increase in spot supply in the maleic anhydride market is limited. As of March 31st, the factory price of solid anhydride in Shandong region is around 6700 yuan/ton, and the factory price of liquid anhydride is around 6400 yuan/ton.
Upstream: The market price of pure benzene has fallen. Since the beginning of the month, the price of pure benzene has almost been declining one by one. On March 1st, the price was 7518 yuan/ton; On March 31st, the price was 6634.67 yuan/ton, a decrease of 11.57% from the beginning of the month. In the short term, the market price of pure benzene continued to fluctuate and consolidate.
In March, the international crude oil market fluctuated downwards, and the price of n-butane fluctuated upwards. As of March 31st, the price in Shandong was around 5300-5350 yuan/ton.
Downstream: Currently, unsaturated resin companies are mainly operating steadily, but due to the impact of rising raw material prices and subsequent declines, the unsaturated resin market remains stable, and there is a strong wait-and-see sentiment in the market.
The analyst of Shengyi Society’s maleic anhydride products believes that the recent replenishment of downstream resin demand for maleic anhydride has ended, and new order signings are limited; At present, the prices of the main factories producing maleic anhydride have fallen, and it is expected that the maleic anhydride market will mainly consolidate weakly in the near future.