On February 4th, the market price of phthalic anhydride in the Jiangsu region fluctuated and declined. The mainstream negotiation price for ortho-xylene-based phthalic anhydride was between 6,000 and 6,200 yuan per ton, while the mainstream negotiation price for naphthalene-based phthalic anhydride ranged from 5,550 to 5,900 yuan per ton. Phthalic anhydride manufacturers maintained stable equipment operations, with the operating rate stabilizing at a low level. The domestic phthalic anhydride market had ample spot supply. The price of raw material ortho-xylene remained stable, while the price of industrial naphthalene fluctuated and declined, weakening the cost support for phthalic anhydride. The downstream plasticizer market experienced fluctuating declines, with plasticizer enterprises maintaining stable operating loads, resulting in reduced demand support for phthalic anhydride. Downstream industries made purchases based on rigid demand. In the later period, the phthalic anhydride market is expected to experience weak consolidation.

PriceSeek Analysis: Phthalic Anhydride
Bull-Bear Score: -1.5
The article indicates that the spot price of phthalic anhydride fluctuated and declined. In the Jiangsu region, the mainstream negotiation price for ortho-xylene-based phthalic anhydride was between 6,000 and 6,200 yuan per ton, while the price for naphthalene-based phthalic anhydride ranged from 5,550 to 5,900 yuan per ton. On the supply side, phthalic anhydride manufacturers maintained stable operations, with the operating rate stabilizing at a low level, resulting in ample spot supply in the market. On the demand side, the downstream plasticizer market declined, with enterprises maintaining stable operating loads, but demand support for phthalic anhydride weakened, with purchases limited to rigid demand. On the cost side, the price of raw material ortho-xylene remained stable, while the price of industrial naphthalene declined, weakening cost support. Overall, oversupply combined with weak demand is expected to lead to weak consolidation in the market, bearish for spot prices.

Ortho-Xylene
Bull-Bear Score: 0
The article mentions that the price of ortho-xylene remained stable. As a major raw material for phthalic anhydride, its stable price does not provide significant cost support or pressure. Currently, there are no significant changes in supply and demand in the market, resulting in a neutral impact on the cost of phthalic anhydride. The spot price of ortho-xylene is expected to remain stable, with no clear bullish or bearish drivers.

Industrial Naphthalene
Bull-Bear Score: -1
The article points out that the price of industrial naphthalene fluctuated and declined. As one of the raw materials for phthalic anhydride, its price decline weakens the production cost support for phthalic anhydride. Ample supply or weakened demand may put pressure on the spot price of industrial naphthalene, bearish for its market performance. Industrial naphthalene prices are expected to remain weak in the short term.

Plasticizer
Bull-Bear Score: -1
The article describes the plasticizer market as fluctuating and declining, with enterprises maintaining stable operating loads but providing weaker demand support for phthalic anhydride. This indicates ample supply in the plasticizer market and weak downstream purchasing demand, leading to increased downward pressure on spot prices. Plasticizer prices are expected to remain weak, bearish for their spot performance.