November 3rd, according to the news,
According to the Spotcom AI assistant, the factory prices of maleic anhydride in key production areas such as Shandong and Jiangsu in China have been continuously decreasing recently, with the market trend continuing to weaken. Based on the average difference indicators, the current price of maleic anhydride is in a clear downward trend and is located in the high range of the past 1-year cycle. Subsequently, it is necessary to closely monitor the changes in the cost of raw materials such as upstream benzene and n-butane, as well as the demand support strength in downstream areas such as unsaturated polyester resins and 1,4-butanediol.
I. Table of Finite Differences
| Mean Difference Indicator | Value on November 2, 2026 | Value on November 1, 2026 | Direction of Change |
|---|---|---|---|
| 5-Day Mean Difference (D5) | -85.00 | -50.00 | - |
| 10-Day Mean Difference (D10) | -85.00 | -37.50 | - |
| 20-Day Mean Difference (D20) | -18.75 | -12.50 | - |
II. Signal State Determination
Currently, this constitutes a clear bearish signal; the three mean differences all changed in the same direction as the previous day, namely downward.
Three, Conclusions on Trend Directions
The trend is clearly downward. Reason: The changes in the 5-day, 10-day, and 20-day moving average differences from the previous day are all consistent and downward, meeting the criteria for a clear downward trend according to the moving average difference method.
IV. Positional Spatial Reference
Maleic anhydride is in the 5th tier (high position) for 60-day, 3-month, and 1-year cycle prices, with very limited room for further increases. Given the current downward trend, there is still some potential for further decline.
5. Trend Chart Display
VI. Fundamental Analysis Reference
Spot market: On November 2, 2026, the factory price of solid anhydride in Shandong region was 9,400-9,500 CNY/ton, and the factory price of liquid anhydride was 8,900-9,000 CNY/ton. In Jiangsu region, the factory price of solid anhydride was 9,400-9,500 CNY/ton, and the factory price of liquid anhydride was 9,200-9,300 CNY/ton. The prices from the main factories in both regions continued to show a downward trend.
Import and export data: In September 2026, China’s maleic anhydride export volume was 30,200 tons, with cumulative exports for January–September totaling 235,000 tons; import volumes were extremely low, with cumulative imports for January–September reaching only 284.955 tons.
Industry chain overview: Upstream benzene prices have continued to weaken recently, and cost support for maleic anhydride has eased. Upstream n-butane prices were marginally raised by RMB 120 per ton on November 2; subsequent developments will depend on cost-side dynamics. Downstream demand remains largely unchanged, with steady purchasing driven by essential needs.
VII. Risk Warning
The above analysis is for reference only and does not constitute trading advice.
