Chempricehub June 9 News
On June 9, the phthalic anhydride market in Jiangsu region showed weak consolidation. The mainstream negotiation price for o-xylene method feedstock ranged from 8,450 to 8,750 yuan/ton, while that for naphthalene method feedstock ranged from 7,600 to 7,900 yuan/ton. Phthalic anhydride manufacturers maintained high operating loads, with stable production rates. Spot supply in the domestic phthalic anhydride market remained ample. Crude oil prices retreated from highs, leading to a decline in raw material o-xylene prices, while industrial naphthalene prices experienced volatile declines, reducing phthalic anhydride production costs. Downstream plasticizer prices fell, and plasticizer producers saw a rebound in operating loads from low levels, still providing some support for phthalic anhydride demand. Downstream buyers engaged in rigid demand procurement, resulting in weak consolidation of the o-xylene-based phthalic anhydride market.