On October 19, 2026, an analysis of the spot market for phthalic anhydride indicates that prices are currently fluctuating in a range, exhibiting a mild pullback (leaning bearish). Prices across all timeframes remain at elevated levels, with limited room for further gains. Market participants should closely monitor manufacturers’ plant operating rates, inventory dynamics, and downstream demand trends.
I. Table of Finite Differences
| Mean Difference Indicator | Today’s Value (2026.10.19) | Yesterday’s Value (2026.10.18) | Direction of Change |
|---|---|---|---|
| 5-Day Mean Difference (D5) | -60 | 40 | - |
| 10-Day Mean Difference (D10) | 173.33 | 216.66 | - |
| 20-Day Mean Difference (D20) | 242.5 | 234.17 | + |
II. Signal State Determination
The current combination of changes in the mean differences is (–, –, +), corresponding to a mild pullback signal (bearish bias, pullback nature).
III. Conclusion on Trend Direction
Currently, phthalic anhydride prices are trending sideways. The rationale is that the 5-day, 10-day, and 20-day moving averages have not all shifted in the same direction as the previous day, consistent with the criteria for a ranging market; specifically, this reflects a mild, bearish correction phase.
Fundamental evidence: On October 19, the phthalic anhydride unit of Changzhou Xinyang in China was shut down for maintenance, and inventory was oversold. However, the quoted price fell by 100 CNY/ton to 10,700 CNY/ton, with limited orders accepted. The characteristics of supply and demand competition are evident, supporting a judgment of fluctuation.
4. Spatial Reference
Phthalic anhydride 60-day, 3-month, and 1-year cycle prices are all in the 5th tier (high price range), with limited room for increase, and the risk of a short-term correction is relatively high.
V. Chart Display
VI. Data Explanation
The latest available data is up to October 19, 2026, and it is recommended to refer to real-time data.
VII. Risk Warning
The above analysis is for reference only and does not constitute trading advice.
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