I. Focus Points
Core logic: At present, domestic phthalic anhydride industry inventories are oversold, and cost-side support is strong. Cost-side drivers are strengthening, and market participants have a strong willingness to hold prices firm, providing some support to the market.
II. Price Table
| Product | Region | Sep 9 | Sep 8 | Change |
|---|---|---|---|---|
| o-Xylene | Jiangsu | 9300 | 9000 | 300 |
| Industrial naphthalene | Shandong | 6400 | 6400 | 0 |
| Phthalic anhydride (o-xylene route) | Jiangsu | 9750 | 9500 | 250 |
| Phthalic anhydride (naphthalene route) | Hebei | 9200 | 8900 | 300 |
| Remarks: | ||||
| 1. o-Xylene, industrial naphthalene, and phthalic anhydride are all national standard premium-grade products. | ||||
| 2. The four products are priced in RMB, unit: yuan/tonne. | ||||
| 3. The RMB prices in the table above are all ex-works cash prices including tax. | ||||
| 4. The two-period prices are point-in-time prices for the past two working weeks before this week, not weekly average prices. | ||||
| 5. The change rate is the week-on-week change rate. |
III. Market Outlook
At present, strong support from the upstream cost side, combined with low phthalic anhydride industry inventories, has made cost-side drivers strong, becoming the main factor pushing the market upward. In the short term, the price center of the domestic phthalic anhydride market is expected to continue to rise.
IV. Data Calendar
| Data Item | Release Date | Previous Data | Expected Trend for Current Period |
|---|---|---|---|
| Phthalic anhydride weekly output | Thursday 4:00 PM | 41,300 tonnes | ↗ |
| Phthalic anhydride capacity utilization rate | Thursday 4:00 PM | 59% | ↗ |
| Phthalic anhydride production profit (o-xylene route) | Thursday 4:00 PM | 428 yuan/tonne | ↘ |
| Phthalic anhydride production profit (naphthalene route) | Thursday 4:00 PM | 465 yuan/tonne | ↘ |
| 1. ↓↑ are regarded as large fluctuations, highlighting data dimensions with changes exceeding 3%. | |||
| 2. ↗↘ are regarded as narrow fluctuations, highlighting data with changes within 0-3%. |
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