Phthalic anhydride prices noticed stable to up

Spot trading activity for Phthalic Anhydride gained traction this week as more buyers in Southeast Asia stepped up their purchase of feedstock ahead of the Lunar New Year. “Spot supply for Phthalic Anhydride in SEA is tight and there is strong demand from buyers who want to buy more to stock up their inventories,” a South Korean producer, who sold eight parcels of PA cargoes totalling over 1,200 mt to SEA buyers this week, said. On the other hand, buying interest for Dioctyl Phthalate was reported stronger as Chinese buyers want to stock up before the commencement of the Lunar New Year festivities this week. “I do not think the DOP market in China has really gotten stronger this week, but rather the strengthening of the Chinese Yuan against the greenback this week has made imported material more palatable to them,” a Taiwanese producer, who sold a cargo to Chinese buyer at $1,050/mt CFR China this week, said. The same Taiwanese producer offered at cargo at $1,050/mt CFR China last week, but there were no takers. On the SEA marker, sellers however, had to lower their offers for DOP in the SEA market to entice buying interest.”We sold two cargoes this week, but we have to lower our price as we are eager to offload these materials before the Lunar New Year,” a South Korean trader, who sold two parcels of DOP to SEA buyers this week, said. RATIONALE: CFR China dioctyl phthalate was assessed up $10/mt week on week at $1,050/mt Friday, based on a trade concluded at $1,050/mt CFR China. The CFR Southeast Asia marker was assessed down $15/mt week on week at $1,210/mt, reflecting two deals done in the range of $1,200-$1,215/mt CFR SEA. Phthalic anhydride was assessed unchanged week on week at $900/mt CFR China, as price discussions were heard at $900/mt CFR China. The SEA marker was up $10/mt on week at $965/mt CFR SEA, based on eight trades concluded at a range of$960-$980/mt CFR SEA. CFR China 2-EH marker was assessed unchanged on the week at $1,035/mt CFR China this week, as price discussion were heard at around $1,035/mt CFR China. The SEA marker was assessed unchanged week on week at $1,075/mt CFR SEA on muted trading. The China and SEA marker for normal butanol was assessed unchanged on week at $910/mt CFR China and$910/mt CFR SEA, respectively, due to a muted market.

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