November 2nd report:
According to the SpotCom AI assistant, as of November 1, 2026, the Chinese maleic anhydride spot market has been declining for several consecutive days. The factory prices of solid and liquid anhydride in Shandong and Jiangsu have both decreased. Based on the analysis of the average difference, the current trend of maleic anhydride is in a weak rebound and slightly bearish oscillation phase, with prices in the high range of the past year. The room for further price increases is limited. It is recommended to monitor the price fluctuations of upstream raw materials such as pure benzene and n-butane, as well as the recovery of downstream demand.
I. Table of Finite Differences
| Mean Difference Indicator | Value as of November 1, 2026 | Value as of October 31, 2026 | Direction of Change |
|---|---|---|---|
| 5-Day Mean Difference (D5) | -50.00 | -95.00 | + |
| 10-Day Mean Difference (D10) | -37.50 | 0.00 | - |
| 20-Day Mean Difference (D20) | -12.50 | -11.25 | - |
Note: The most recent data currently available is as of November 1, 2026; real-time data is recommended.
II. Signal State Determination
The current average difference change combination is (+, -, -), which belongs to a weak rebound (bearish) signal.
III. Conclusions on Trend Directions
The current price trend is oscillating (with a bearish bias), reason: the directions of the three average differences compared to the previous day are not entirely consistent, meeting the criteria for an oscillating trend, and the corresponding symbol combination indicates a weak rebound with a bearish bias, suggesting that the short-term trend is under downward pressure.
IV. Positional Space Reference
Maleic anhydride 60-day, 3-month, and 1-year cycle prices are all in the 5th tier (high, within the top 20% range of the cycle), with limited room for further increases and a higher risk of a pullback from these high levels.
V. Price Trend Chart for the Past Year
VI. Recent Spot Market Developments
Regional prices: On October 29–30, in Shandong, the factory price of solid maleic anhydride was lowered from RMB 9,500–9,700 per ton to RMB 9,500–9,600 per ton, while the factory price of liquid maleic anhydride fell from RMB 9,100–9,200 per ton to RMB 8,900–9,000 per ton. In Jiangsu, the factory price of solid maleic anhydride was reduced from RMB 9,500–9,700 per ton to RMB 9,500–9,600 per ton, and the factory price of liquid maleic anhydride dropped from RMB 9,400–9,500 per ton to RMB 9,300–9,400 per ton, with most major producers generally adjusting their quoted prices downward.
Import and export data: In September 2026, China’s maleic anhydride export volume was 30,200 tons, with cumulative exports for the first nine months totaling 235,000 tons; in September, import volume stood at just 24.92 tons, and cumulative imports for the first nine months reached 284.955 tons. Overseas exports remain a key driver of maleic anhydride demand.
Supply chain relationships: The upstream raw materials, pure benzene and liquefied gas, are currently at high prices, providing some support to the cost of maleic anhydride; the overall demand for downstream products such as unsaturated polyester resins and 1,4-butylene glycol is relatively weak in China.
Risk Warning
The above analysis is for reference only and does not constitute trading advice.
