February 4th News 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 the cost of phthalic anhydride. Downstream plasticizer prices also fluctuated lower, with plasticizer manufacturers maintaining low and stable operating rates. Downstream demand was primarily driven by rigid demand, with phthalic anhydride procurement being need-based. As a result, demand support for phthalic anhydride weakened. Phthalic anhydride manufacturers maintained stable operating rates, ensuring sufficient supply, while inventory levels remained low. It is expected that the phthalic anhydride market will continue to consolidate weakly in the near future. Chempricehub 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 (industrial naphthalene prices falling, ortho-xylene prices stabilizing) and weakening demand (downstream plasticizer prices declining, manufacturers purchasing based on rigid demand). On the supply side, stable operating rates and low inventory levels provide some support. However, overall supply and demand remain weak, and the market is expected to continue consolidating in the near term, exerting a slight bearish pressure on spot prices. **Industrial Naphthalene, Bull-Bear Score: -1** Industrial naphthalene prices fluctuated downward, directly reducing the 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 moderate bearish factor for spot prices. **Ortho-Xylene, Bull-Bear Score: 0** Ortho-xylene prices stabilized, showing no 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.