On February 2, the market price of phthalic anhydride in Jiangsu fluctuated downward. The mainstream negotiation price for ortho-xylene-based products was between 6,000 and 6,200 yuan/ton, while the mainstream negotiation price for naphthalene-based products was between 5,550 and 5,900 yuan/ton. The production equipment of phthalic anhydride manufacturers operated stably, and the operating rate remained low but stable. The domestic phthalic anhydride market had ample spot supply. The price of raw material ortho-xylene stabilized, while the price of industrial naphthalene declined, weakening the cost support for phthalic anhydride. The downstream plasticizer market fluctuated downward, with plasticizer enterprises maintaining stable operating loads, leading to 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.