As of September 27, 2026, the spot average price difference of phthalic anhydride indicates a short-term trend in a volatile and bearish pattern, with the 1-year cycle price at a high level, leaving limited room for further increases. Since late September, Chinese phthalic anhydride manufacturers have cumulatively reduced their quotes by 200-250 CNY/ton. The demand side has shown weak follow-up. It is recommended to closely monitor the procurement pace of the downstream plasticizers and resins industries, as well as the price trends of upstream raw materials OX and refined naphthalene.
This analysis is based on the latest available data up to September 27, 2026, and it is recommended to refer to real-time data.
I. Table of Finite Differences
| Mean Difference Indicator | Calculated Value as of 2026.09.27 | Calculated Value as of 2026.09.26 | Direction of Change |
|---|---|---|---|
| 5-Day Mean Difference (D5) | -10 | -40 | Upward |
| 10-Day Mean Difference (D10) | -120 | -120 | No Change |
| 20-Day Mean Difference (D20) | 24.17 | 76.67 | Downward |
II. Signal State Determination
The current signal is a weak rebound (bearish) within a consolidation range.
III. Conclusion on Trend Direction
The short-term trend is choppy, for the following reasons: the three moving averages did not all change in the same direction as the previous day, failing to meet the criteria for a clear uptrend or downtrend; meanwhile, the 20-day moving average has narrowed significantly, and the 10-day moving average remains persistently negative, indicating an overall bearish bias.
IV. Positional Space Reference
Phthalic anhydride prices are in the 4th tier (mid-high) in a 60-day cycle, and in the 5th tier (high) in both 3-month and 1-year cycles. The room for further increases is limited, and there is a need to be cautious about the risk of a pullback from high levels.
V. Fundamental Evidence of the Spot Market
Since late September, phthalic anhydride manufacturers in China have continuously reduced their quotations: On September 22, Changzhou Xinyang quoted 10,250 CNY/ton, and by September 27, the latest manufacturer quotation had fallen to 10,000 CNY/ton, a cumulative decrease of 250 CNY/ton. Most manufacturers have low inventory levels but are mainly using it for their own purposes and limiting orders. Downstream demand is weak, and actual transaction prices continue to decline.
VI. 1-Year Price Trend
VII. Risk Warning
The above analysis is for reference only and does not constitute trading advice.
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