Phthalic anhydride market review: The Chinese market went down in August 2017. Up to August 31, 2017, the closing price for phthalic anhydride produced by o-xylene was RMB 6,400/mt, down RMB 350/mt or 5.19% from last week. The closing price for phthalic anhydride produced by crude naphthalene was RMB 5,950/mt, down RMB 500/mt or 7.75% from last month.
Influenced by the environmental protection supervision, phthalic anhydride units were shut, and the overall supply declined. In mid-August, the phthalic anhydride market rebounded on the increasing market. However, the downstream units were shut, and the demand was weak. Phthalic anhydride producers suffered sales pressure, and the negotiation prices declined greatly.
O-xylene market review: The Chinese o-xylene market inched down. Up to August 31, 2017, the closing price for o-xylene in East China was RMB 6,150/mt, down RMB 150/mt or 2.38% from last week. Influenced by the environmental protection supervision, the demand for o-xylene was weak. The overall trading was thin.