September 24th report:
According to the SpotCom AI assistant, this analysis is based on the latest spot data and the average difference analysis framework. The current spot price of maleic anhydride is in the high range of the past 1-year cycle. The average difference signal indicates a weak rebound (bearish) state, with no clear upward trend in the short term. Market transactions are mainly driven by rigid demand, and there is a need to be cautious of the risk of a high-level correction.
1. Average Difference Change Table
| Difference Type | Today’s Value (2026.09.23) | Yesterday’s Value (2026.09.22) | Direction of Change |
|---|---|---|---|
| 5-Day Difference (D5) | -10.00 | -30.00 | + |
| 10-Day Difference (D10) | 12.50 | 86.25 | - |
| 20-Day Difference (D20) | 550.62 | 568.12 | - |
2. Signal Status Determination
The current average difference change combination is (+, -, -), which belongs to a weak rebound (bearish) signal.
3. Trend Direction Conclusion
The current trend is oscillating (with a bearish bias), reason: the directions of the three average differences compared to the previous day are not entirely consistent, which does not meet the criteria for a clear uptrend or downtrend. Therefore, the trend is judged as oscillating, with a combination that signals a weak rebound, indicating an overall bearish bias.
4. Position Space Reference
Maleic anhydride 60-day, 3-month, and 1-year cycle price positions are all in the 5th tier (high position), with limited room for increase, and there is a possibility of a high-level correction.
5. Trend chart display
6. Recent Market Dynamics
Price Movements: On September 23, 2026, the maleic anhydride market in Jiangsu and Shandong provinces recorded an upward trend. The factory price for solid maleic anhydride ranged from RMB 8,400 to 9,000 per ton, while that for liquid maleic anhydride was between RMB 8,200 and 8,800 per ton, with major producers raising their listed prices. From September 18 to 21, the maleic anhydride market in both regions had been on a consecutive downward trajectory, with manufacturers repeatedly cutting their quoted prices.
Supply chain reference: Upstream raw materials include hydrogenated benzene, n-butane, liquefied gas, pure benzene, etc. Currently, the prices of upstream pure benzene and liquefied gas in China are at high levels, providing strong cost support for maleic anhydride; downstream products include unsaturated polyester resins, 1,4-butanediol, tetrahydrofuran, etc., with overall stable demand in China and no significant signals of increased demand.
Risk Warning
The above analysis is for reference only and does not constitute trading advice.
