On August 23, 2026, the phthalic anhydride price was in the high range of a 1-year cycle, with the average difference indicator showing a deep correction and a bearish trend. Recently, many phthalic anhydride producers in China have had limited facility utilization rates, low inventory, or tight supply, which supported the continuous increase in previous quotations. However, changes in the average difference indicator have released a warning signal for a correction. Subsequently, it is necessary to continuously monitor the impact of supply and demand dynamics on price trends.
I. Overview of the Phthalic Anhydride Market (Revised)
Recently, some Chinese phthalic anhydride plants have been operating at limited capacity, with low inventory or tight supply, leading to a phased increase in quotations.
August 18: Zhenjiang Liancheng Chemical Industry Co., Ltd. (120,000 tons capacity) offered phthalic anhydride at 9,200 CNY/ton, an increase of 100 CNY/ton from the previous day; Tongling Chemical Industry Group (80,000 tons capacity) resumed production at its ortho-xylene phthalic anhydride plant, offering phthalic anhydride at 9,100 CNY/ton, an increase of 50 CNY/ton; Changzhou Xinyang (100,000 tons capacity) has a facility utilization rate of around 50%, with low inventory, and offered phthalic anhydride at 9,250 CNY/ton, an increase of 50 CNY/ton. All three companies are limiting orders or sales.
August 19: Zhenjiang Liancheng Chemical Industry Co., Ltd. quoted a phthalic anhydride price of 9,300 CNY per ton, up 100 CNY per ton from the previous day.
August 20: The phthalic anhydride quotation from Changzhou XinYang is 9,350 CNY/ton, an increase of 100 CNY/ton from the previous day; Liancheng Chemical Industry Co., Ltd. in Zhenjiang quotes 9,300 CNY/ton, remaining stable; Shijiazhuang Bailong Chemical Co., Ltd. (with a capacity of 80,000 tons) is operating normally with limited inventory mainly for its own use, and the phthalic anhydride quotation is 9,100 CNY/ton, an increase of 100 CNY/ton.
August 21: The phthalic anhydride quotation from Tongling Chemical Industry Group was 9,200 CNY/ton, an increase of 100 CNY/ton from the previous day; Shijiazhuang Bailong Chemical Co., Ltd. quoted 9,200 CNY/ton for phthalic anhydride, also an increase of 100 CNY/ton.
II. Mean Difference Analysis
1. Mean Difference Change Table
| Average Difference Type | Today’s Value (August 23) | Yesterday’s Value (August 22) | Direction of Change |
|---|---|---|---|
| 5-day Average Difference (D5) | 23.33 | 40 | - |
| 10-day Average Difference (D10) | 50 | 51.66 | - |
| 20-day Average Difference (D20) | 53.33 | 38.34 | + |
2. Signal Status Determination
The current mean difference change direction combination is (－, －, ＋), which belongs to a deep correction (bearish, corrective nature) signal.
3. Trend Direction Conclusion
The price trend is judged to be oscillating (with a bearish bias). Reason: The direction of change in the three averages compared to the previous day is not entirely consistent. Among them, the 5-day and 10-day averages have narrowed compared to yesterday, while the 20-day average has widened, which is consistent with the characteristics of a deep correction and a bearish oscillation signal.
4. Positional Spatial Reference
Phthalic anhydride prices in China are currently in the 5th tier (high level) of a 1-year cycle, with limited room for further increases and relatively high pressure for a correction.
5. Trend Chart Display
III. Risk Warning
The above analysis is for reference only and does not constitute trading advice.
(Source: )
