In late October 2026, China’s phthalic anhydride market is expected to remain volatile. Currently, plant shutdowns for maintenance at some producers and tight supply are providing support to prices; however, quoted prices from certain local manufacturers have edged lower. Short-term price‑spread signals point to a mild pullback with bearish bias, while prices remain near one-year highs, limiting further upside. Traders are advised to closely monitor downstream demand dynamics and developments in producers’ operating schedules.
I. Recent Fundamental Developations
Supply side: Changzhou Xinyang's 100,000 tons/year phthalic anhydride plant is currently under maintenance and shutdown, with oversold inventory; Tongling Chemistry's 80,000 tons/year o-xylene phthalic anhydride plant is operating normally, but supply is tight and sales are limited.
Price Dynamics: On October 20, the phthalic anhydride quote from Changzhou Xinyang in China was 10,650 CNY/ton, a decrease of 50 CNY/ton from October 19; on October 16, the phthalic anhydride quote from Tongling Chemical in China was 10,600 CNY/ton, an increase of 300 CNY/ton from the previous quote.
- The latest available data is up to October 20, 2026. It is recommended to refer to real-time data.
II. Table of Finite Differences
| Difference Type | Value on October 20, 2026 | Value on October 19, 2026 | Direction of Change |
|---|---|---|---|
| 5-day difference | -73.33 | -60 | - |
| 10-day difference | 135 | 173.33 | - |
| 20-day difference | 247.5 | 242.5 | + |
III. Signal State Determination
When the three successive divided differences change in the sequence (-, -, +), it constitutes a mild pullback (bearish, corrective in nature) signal.
4. Conclusion on Trend Directions
The current phthalic anhydride price trend in China is fluctuating. The reason is that the changes in the 5-day, 10-day, and 20-day moving averages compared to the previous day are not entirely consistent, which does not meet the criteria for a clear upward or downward trend. There is a divergence in the direction of movement, thus it is determined to be a fluctuating trend, with a short-term mild correction showing a slightly bearish characteristic.
V. Positional Space Reference
Phthalic anhydride 60-day, 3-month, and 1-year cycle prices are all in the 5th tier (high) range, with limited room for further increases.
VI. 1-Year Trend Chart Display
VII. Risk Warning
The above analysis is for reference only and does not constitute trading advice.
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