October 22nd, according to reports
According to the SpotCom AI assistant, as of October 21, 2026, this daily report is based on the latest spot data, using methods such as mean difference analysis, regional spot monitoring, and industry chain linkage for a comprehensive assessment: currently, maleic anhydride is in a high-level oscillation with a mild downward adjustment phase. The short-term trend is bearish, with prices at a high level over a 1-year period and limited upward potential. Spot quotations in major production areas such as Shandong and Jiangsu have been declining for 3 consecutive days, and the execution prices of leading factories continue to decrease.
I. Monitoring of Mean Difference Changes
| Difference Type | Value on October 21, 2026 | Value on October 20, 2026 | Direction of Change |
|---|---|---|---|
| 5-Day Difference (D5) | -35.00 | -20.00 | - |
| 10-Day Difference (D10) | -7.50 | 17.50 | - |
| 20-Day Difference (D20) | 111.25 | 106.25 | + |
II. Signal State Determination
The current combination of changes in the mean differences is (-, -, +), which constitutes a mild pullback (bearish, corrective in nature) signal.
III. Conclusions on Trend Directions
The current trend for maleic anhydride prices is volatile and bearish. The reasons are: the changes in the three averages are not entirely consistent, which does not meet the clear criteria for a definite rise or fall, indicating a volatile range; coupled with a mild bearish signal of ( -, -, + ), and the spot quotes in the main production areas in China have been declining for several consecutive days, suggesting a strong downward adjustment momentum in the short term.
IV. Positional Space Reference
Maleic anhydride 60-day, 3-month, and 1-year cycle prices are all in the 5th tier (high) range, with limited room for further increases and significant pressure for a high-level correction.
Five, 1-year price trend chart
Six, Monitoring of Spot Market Conditions in Major Production Areas in China
Shandong region: On October 21, 2026, the factory price of solid anhydride was 9,300-9,600 CNY/ton, and the factory price of liquid anhydride was 8,900-9,100 CNY/ton, down 200-300 CNY/ton and 300-400 CNY/ton, respectively, from October 19. The prices implemented by major factories in China continued to decline.
Jiangsu region: On October 21, 2026, the factory price for solid maleic anhydride was RMB 9,300–9,600 per ton, and for liquid maleic anhydride RMB 9,300–9,400 per ton—down RMB 100–200 per ton and RMB 200–300 per ton, respectively, from October 19. Major local producers have continued to lower their listed prices.
VII. Industry Chain Coordination Alert
Upstream: Pure benzene and liquefied gas are both at high prices, providing strong cost support. However, there is no further significant upward momentum in upstream prices, leading to a weakening marginal cost support for maleic anhydride.
Downstream: Major downstream products such as tetrahydrofuran and 1,4-butylene glycol are also at high prices. The downstream demand in China is less accepting of high-priced maleic anhydride, resulting in insufficient demand support.
Risk Warning
The above analysis is for reference only and does not constitute trading advice.
