Cost-Driven Phthalic Anhydride Market Surges (Sep 11–17, 2026)

1. Key Market Focus This Week

   1. Rising costs strengthened cost-driven momentum, pushing phthalic anhydride (PA) prices higher.

   2. Various efforts to ease tensions in the Middle East placed pressure on elevated market levels.

   3. Widening losses in downstream industries increased resistance to PA market prices.

2. Weekly Market Analysis

Specifically, during this period, the price of Jiangsu-based o-xylene process phthalic anhydride rose, fluctuating within the range of 10,000–10,350 RMB/ton. The price of Hebei-based naphthalene process phthalic anhydride also increased, with fluctuations ranging from 9,400–9,600 RMB/ton. Overall domestic phthalic anhydride prices rose, primarily driven by cost factors. Early in the week, rising crude oil and commodity futures prices fueled strong bullish sentiment. Additionally, tight supply of the raw material o-xylene persisted, leading to continuous increases in its price and further elevating production costs for the o-xylene process phthalic anhydride industry. Spot supply of phthalic anhydride was tight, and driven by cost pressures, domestic prices surged. However, due to losses in downstream industries, transactions at the high end of the price range were limited. In the latter half of the week, expectations of Federal Reserve rate hikes led to declines in crude oil and commodity futures prices, causing a pullback from highs in the domestic naphthalene process phthalic anhydride market.

3. Analysis of Market Influencing Factors

   1. Low capacity utilization rate in the phthalic anhydride industry.

   2. Strengthening cost-driven support.

4. Next Week's Market Forecast

It is projected that the gap between production/sales and demand for phthalic anhydride may widen in the next period. Expectations of increased supply from o-xylene process phthalic anhydride could exert some pressure on the market, suggesting a weakening trend in the center of gravity of domestic phthalic anhydride prices. Key areas to watch include:

1. Supply side: Overall operating rates in the phthalic anhydride industry are expected to rise next period, which may alleviate the tight supply situation to some extent. Monitor the release of incremental supply from o-xylene process producers.
2. Demand side: Operating rates in the primary downstream plasticizer industry remain low, while the unsaturated polyester resin (UPR) industry faces expectations of declining operations. Overall consumption is projected to decrease.
3. Cost side: Cost expectations for o-xylene process phthalic anhydride remain stable, but tight supply of o-xylene continues to provide strong cost support for this segment. Prices of industrial naphthalene are expected to weaken, leading to slight decreases in costs for the naphthalene process phthalic anhydride industry.

For more detailed weekly market analysis, please refer to the Phthalic Anhydride Weekly Report by Chempricehub Information.