The prices of Phthalic Anhydride continued the bearish trajectory till mid-August xxxx. The prices plummeted by x.xx WoW. The decline in the prices was primarily driven by declined input cost which increased downward pressure on Phthalic anhydride market. Demand from downstream sectors started to rebound amid the end of maintenance of various DOP plants and steady plasticizer production. Overall, the market sentiments continued to be bearish leading to the significant dip in the prices during the week.
In the last week, manufacturers of Phthalic anhydride decreased the equipment load and operating rates of the plants, declining slightly by xx. While operating rates declined as compared to the previous week, the overall inventory levels still exceed the current demand and offtake from downstream sectors which continued to put downward pressure on the market sentiments. The feedstock Naphthalene and o-xylene prices also declined...
