Tight supply has led to a sharp rise in the price of anhydride in 2021!

Price trend chart of Phthalic anhydride in 2020-2021 China

In 2021, the market price of phthalic anhydride products continued to rise, and macro factors in the first half of the year became the main factor driving the market rebound. After the Spring Festival holiday, the commodity futures market skyrocketed under the influence of global inflation expectation and external petrochemical plant force majeure.

The market speculation atmosphere was strong, and the domestic phthalic anhydride market rose rapidly. In early March, the mainstream market price of East China anhydride reached 7700 CNY/ton, rising by 2300 CNY/ton or 42.59% compared with the beginning of the year.

After entering march, demand factors to return to the market leading factor, the downstream plasticizer industry subject to its main raw material of butyl octyl alcohol sustained high prices, the high cost of surface pressure, the downstream plasticizer starts fell from history, fall in demand for phthalic anhydride, superposition of commodity futures markets tumbled and domestic benzene anhydride market has entered into the phase of sideways.

 In the second half of the year, the domestic anhydride industry started centralized overhaul, and the supply of the domestic anhydride industry declined significantly. The overall supply of the market began to be tight, which also led to a slow rise in the overall market center of gravity.

But after the National Day holiday, under the international crude oil continues to pull litre, drive cost surface rapidly, and under the influence of inflation expectations, usher in a new surge in commodity futures market, under the phthalic anhydride device maintenance, industry rised mood is stronger, enlarge the market supply of goods supply tension, young domestic benzene anhydride market in goods price situation, the market appears quickly pull litre, East China main spot market price of benzene anhydride rose to 8400 CNY/ton, a new high point in the year.

According to data statistics, the average price of phthalic anhydride products in 2021 is 6,450 CNY/ton, up 1,054 CNY/ton, or 19.53%, compared with 5,396 CNY/ton in 2020. The lowest price is 4,700 CNY/ton in early January, and the highest price is 8,400 CNY/ton in late October. As of October 31, 2021, the transaction price of East China Mainstream phthalic anhydride products is 8200 CNY/ton, which is 30.16% higher than the 6,300 CNY/ton of the same period in 2020.