May 19th News – On May 19th, the phthalic anhydride market in Jiangsu showed signs of stabilization. The mainstream negotiation price for ortho-xylene-based phthalic anhydride is in the range of 8,500–8,800 RMB/ton, while that for naphthalene-based phthalic anhydride is around 8,000–8,200 RMB/ton. The phthalic anhydride industry exhibits a pattern of "naphthalene-based strong, ortho-xylene-based weak." The operating rates of phthalic anhydride plants remain at high levels and are stabilizing, with steady operating rates in the industry. Spot supply in the domestic phthalic anhydride market is ample. Crude oil prices are hovering at high levels and stabilizing, while ortho-xylene feedstock prices are fluctuating but stabilizing. Industrial naphthalene prices are also stabilizing. The cost of phthalic anhydride remains temporarily stable. Naphthalene-based phthalic anhydride inventories are oversold. Downstream plasticizer prices are declining, but plasticizer plant operating rates are stabilizing, still providing some support for phthalic anhydride demand. Downstream buyers are purchasing on a need-to-basis, and the phthalic anhydride market is showing a weak but stabilizing trend.

Chempricehub Analysis of Phthalic Anhydride: Bullish-Bearish Score: -0.5

• Spot: The phthalic anhydride market in Jiangsu has ample supply. On the cost side, it is stabilized by the steady prices of crude oil, ortho-xylene, and industrial naphthalene. Downstream plasticizer price weakness exerts some pressure on demand, but downstream need-based purchases still provide support. Overall, the market is weak but stabilizing, with a relatively weak bearish effect.

• Ortho-Xylene: Bullish-Bearish Score: 0. Currently, ortho-xylene prices are fluctuating but stabilizing. As a key raw material for phthalic anhydride demand, it is supported by the high and stable operating rates of phthalic anhydride plants. Overall trend is neutral.

• Industrial Naphthalene: Bullish-Bearish Score: 0. Currently, industrial naphthalene prices are stabilizing. As a raw material for naphthalene-based phthalic anhydride, demand-side support is stable. Overall trend is neutral.

• Plasticizers: Bullish-Bearish Score: -1. Currently, plasticizer prices are declining. Plant operating rates are stabilizing, still providing some support for upstream phthalic anhydride demand. Overall trend is slightly bearish.

• Crude Oil: Bullish-Bearish Score: 0. Currently, crude oil prices are high and consolidating. As an upstream cost support for chemical products, it provides stable support. Overall trend is neutral.