The latest available data for phthalic anhydride in China is up to October 25, 2026. It is recommended to refer to real-time data. Based on the average difference method, phthalic anhydride is currently in a strong consolidation range with prices at their highest level in nearly 1 year. The cost side, including crude oil, ortho-xylene, and industrial naphthalene, provides solid support. On the supply and demand side, low inventory levels and steady downstream demand, combined with good export performance, suggest that the short-term market trend will likely maintain a strong consolidation. The upside potential is limited, while the downside risk is manageable.
I. Table of Finite Differences
| Difference Type | Value on 2026.10.25 | Value on 2026.10.24 | Direction of Change |
|---|---|---|---|
| 5-Day Difference (D5) | 0 | 0 | Flat |
| 10-Day Difference (D10) | -36.66 | -38.33 | Upward |
| 20-Day Difference (D20) | 195.83 | 227.5 | Downward |
II. Signal State Determination
When the directions of change for the three consecutive divided differences are not entirely consistent, the market is in a range-bound consolidation phase, exhibiting characteristics of strong sideways trading (leaning bullish).
III. Conclusion on Trend Direction
The short-term trend is range-bound with a slight bias toward strength. Reason: The 5-day, 10-day, and 20-day moving averages did not exhibit a consistent directional change compared to the previous day, failing to meet the criteria for a clear uptrend or downtrend; thus, the primary trend is classified as ranging. Coupled with multiple fundamental supports, the overall price action leans bullish.
Cost Side: Crude oil prices have been fluctuating upward, while the prices of raw materials such as phthalic anhydride and industrial naphthalene have stabilized after a period of consolidation, providing solid cost support for phthalic anhydride.
Supply and Demand: Phthalic anhydride producers have seen a rebound in operating rates, yet inventories remain low. Downstream plasticizer production capacity utilization has increased, rigid demand for procurement remains steady, and there are no significant bearish factors on the supply‑demand front.
Import and Export Side: In September 2026, China’s phthalic anhydride import volume was 397.61 tons, with a cumulative total of 2,931.21 tons from January to September. In September, the export volume stood at 13,943.45 tons, bringing the year-to-date cumulative exports to 144,037 tons. With export volumes far exceeding import volumes, China faces relatively limited supply-side pressure.
4. Spatial Reference
Phthalic anhydride 60-day, 3-month, and 1-year cycle prices are all in the 5th tier (high) out of 5 tiers, indicating that the room for further short-term increases is relatively limited. At the same time, due to cost support, the probability of a significant decline is low, and it is likely to maintain a high-level consolidation.
V. Price Trend Chart for the Past Year
VI. Risk Warning
The above analysis is for reference only and does not constitute trading advice.
(Source of the article: )
