Industry News
China's export strength of maleic anhydride is strong, with a significant increase compared to the same period last month
In August, the supply of maleic anhydride in China continued its previous upward trend. According to data monitoring, it was around 103600 tons, an increase of about 23% year-on-year and around 3% month on month. It has already reached its highest level in recent years. During this period, Henan Shengyuan successfully put into operation a large-scale expansion of 210000 tons/year with a new production capacity, and the total effective production capacity of butane based maleic anhydride reached 1.55 million tons. However, there were malfunctions and short shutdowns in its old device, resulting in low start-up after restart. The new device only opened a 70000 ton production line for operation. However, there are relatively few other maintenance devices. Except for the short shutdown of Huizhou Yuxin Large Factory, only some small devices are shut down, and the main enterprises are generally in full production, so the supply scale is very considerable. On the demand side, August is a traditional off-season period. Except for the improvement in demand at the end of the month due to favorable policies, the upward trend of crude oil and related products, and the surge in replenishment sentiment before the peak season, the domestic demand response during other periods is average, mainly due to the rigid entry of the market in stages, with some pressure on supply and slightly stronger export sentiment. In terms of foreign trade, as the Federal Reserve's interest rate hike slows down, the external market price of maleic anhydride has strengthened, coupled with the low domestic market price, foreign investors have increased their replenishment efforts during this period, and the export volume significantly increased in August.
In August, China's main export directions for maleic anhydride were India, Brazil, and the United Arab Emirates, with 9498 tons, 1859 tons, and 936 tons, respectively. The export volume to other countries and regions was relatively low, with less than 500 tons. Compared with July, exports to India increased by 3444 tons, or 57%; exports to Brazil increased by 185 tons, or 11%; exports to the United Arab Emirates increased by 344 tons, or 58%; exports to South Korea increased by 231 tons, Denmark increased by 425 tons, and Türkiye decreased by 361 tons. Exports to other countries and regions have not changed much. In general, in August, China's maleic anhydride exports to countries and regions in Southeast Asia, South America, the Middle East, Northeast Asia and some regions in Europe increased significantly, mainly to Türkiye.
The main regions for maleic anhydride shipment in August were Shandong Province, Henan Province, Shanghai City, and Zhejiang Province, with 6508 tons, 3354 tons, 2724 tons, and 1336 tons respectively. The shipment volume in other regions was relatively low, less than 1000 tons. Compared to last month, Shandong Province increased by 446 tons, an increase of 7%, Henan Province increased by 394 tons, an increase of 13%, Shanghai City significantly increased by 2199 tons, an increase of 419%, and Zhejiang Province increased by 197 tons, an increase of 17%. In addition, compared to last month, other regions also saw a significant increase, with Liaoning Province increasing by 144 tons, Guangdong Province increasing by 273 tons, Jiangsu Province increasing by 220 tons, and Anhui Province decreasing by 603 tons. Overall, there has been little change in the export volume of major production areas of large factories, mainly due to the phased improvement of domestic trade before the peak season, and the main direction of shipment facing domestic customers. However, the export volume in Shanghai has skyrocketed, which is due to the active overseas sales of exporters.
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