On February 4th, the market price of phthalic anhydride in East China showed a weak consolidation. The mainstream quotation for ortho-xylene-based phthalic anhydride was 6,000–6,200 yuan/ton, while the market price for naphthalene-based phthalic anhydride ranged from 5,550 to 5,900 yuan/ton. The price of industrial naphthalene fluctuated downward, while ortho-xylene prices stabilized, leading to a decline in phthalic anhydride production costs. Downstream plasticizer prices fluctuated lower, with plasticizer manufacturers operating at low but stable equipment utilization rates. Downstream demand was limited to essential purchases, and phthalic anhydride procurement was primarily need-based, resulting in weakened demand support. Phthalic anhydride manufacturers maintained stable equipment utilization rates, ensuring ample supply. Inventory levels remained low. It is expected that the phthalic anhydride market will continue to consolidate weakly in the near future.

PriceSeek Analysis
Phthalic Anhydride, Bull-Bear Score: -0.5
The article indicates that spot prices of phthalic anhydride are consolidating weakly, mainly due to declining costs (falling industrial naphthalene prices and stabilizing ortho-xylene prices) and weakening demand (lower downstream plasticizer prices and manufacturers' essential procurement). Stable operating rates and low inventory levels on the supply side provide some support, but overall supply and demand remain weak. The market is expected to continue consolidating in the near term, with a slight bearish impact on spot prices.

Industrial Naphthalene, Bull-Bear Score: -1
The price of industrial naphthalene fluctuated downward, directly reducing the production cost of naphthalene-based phthalic anhydride, reflecting ample market supply or weak demand. The article does not mention other influencing factors, but the clear downward price trend constitutes a generally bearish factor for spot prices.

Ortho-Xylene, Bull-Bear Score: 0
Ortho-xylene prices stabilized without significant fluctuations, indicating a balanced supply-demand market. As a raw material for ortho-xylene-based phthalic anhydride, its stable state has a neutral impact on phthalic anhydride costs, with no significant bullish or bearish drivers affecting spot prices.