February 2, 2024 — On February 2, Changzhou Xinyang's phthalic anhydride plant, with a capacity of 100,000 tons, operated at less than 50% utilization. The manufacturer reported low inventory levels, offering phthalic anhydride at 6,200 yuan/ton, a decrease of 30 yuan/ton. Chempricehub's analysis of phthalic anhydride assigns a bearish score of -1. The rationale: The price drop of 30 yuan/ton to 6,200 yuan/ton directly reflects weak demand and relative oversupply in the market. Although the sub-50% utilization rate and low inventory provide some supply-side support, potentially limiting further declines, the downward price trend dominates spot market sentiment, indicating that short-term pressures outweigh support. The overall assessment is moderately bearish, with expectations that spot prices may remain under pressure. Monitoring demand recovery is advised.