On January 9, the maleic anhydride market in Shandong region remained stable. The ex-factory price of solid maleic anhydride hovered around 4,950 yuan/ton, while the ex-factory price of liquid maleic anhydride was around 4,550 yuan/ton. The auction session in Yantai was suspended, and market transactions were primarily driven by rigid demand. According to PriceSeek's analysis of maleic anhydride, the market sentiment is bearish with a score of -1. The dominance of rigid demand in market transactions indicates weak and inelastic demand. The suspension of the Yantai auction further reduces market liquidity and price discovery mechanisms, potentially increasing spot supply pressure. The narrow fluctuations in the ex-factory prices of solid maleic anhydride at 4,950 yuan/ton and liquid maleic anhydride at 4,550 yuan/ton suggest price stability but a lack of upward momentum. Overall, bearish factors dominate, and spot prices are expected to face slight downward pressure.