On February 4, the phthalic anhydride market in Shandong exhibited a weak consolidation trend. The mainstream negotiated prices for o-xylene-based phthalic anhydride were 6,000–6,200 yuan/ton, while naphthalene-based phthalic anhydride was quoted at 5,550–5,900 yuan/ton. The price of raw material o-xylene remained stable, while industrial naphthalene prices fluctuated downward, leading to a decline in phthalic anhydride production costs. Downstream plasticizer prices also experienced a downward fluctuation, with demand support weakening. Phthalic anhydride plant operations remained stable, with low but steady operating rates, resulting in tight market supply. Plasticizer enterprises maintained stable operating loads, but rigid demand support weakened. The outlook for the phthalic anhydride market suggests continued weak consolidation.

PriceSeek Analysis
Phthalic Anhydride, Bull-Bear Score: -1
The price of raw material o-xylene remained stable, while industrial naphthalene prices fluctuated downward, leading to a decline in phthalic anhydride production costs. Downstream plasticizer prices fell, weakening demand support. Phthalic anhydride plant operations remained stable, with tight supply but insufficient rigid demand. The market is expected to consolidate weakly, exerting a generally bearish impact on spot prices.

O-Xylene, Bull-Bear Score: 0
Prices remained stable with no significant fluctuations. Market supply and demand were balanced, resulting in a neutral impact on spot prices with no clear bullish or bearish signals.

Industrial Naphthalene, Bull-Bear Score: -1
Prices fluctuated downward, reflecting ample supply or reduced demand. Cost pressure eased, but this generally exerted a bearish impact on spot prices.

Plasticizer, Bull-Bear Score: -1
Prices fluctuated downward due to weak downstream demand. Enterprise operating loads remained stable, but rigid demand support was insufficient, resulting in a generally bearish impact on spot prices.