Buyers Replenish Stocks Before the Holiday; DOTP Market Prices Rebound (September 25–30, 2026)

1. Key Market Focus for the Week

1. Production: The average operating load of domestic DOTP plants was 59.73% during this period.

2. Cost: The average price of the main raw material, n-octanol in Shandong, decreased, while the average price of PTA increased.

3. Profit: The theoretical profit margin for sample DOTP enterprises averaged approximately 292 CNY/ton this week.

2. Weekly Market Analysis

Table: Weekly Price Change Summary for the Domestic DOTP Industry Chain
Unit: CNY/ton

Source: Chempricehub Information

During this period, DOTP market prices rose, with mainstream quotes in the Zhejiang region ranging between 10,100 and 10,300 CNY/ton throughout the week.

This week, domestic DOTP market prices increased as sentiment improved. Mainstream quotes in the Zhejiang region operated within a range of 10,100 to 10,300 CNY/ton. The upward momentum was primarily driven by the recovery in external market conditions and improved trading activity within the sector. Geopolitical news at month-end triggered a rebound in international crude oil premiums, leading to a broader recovery in the chemical sector and a rapid resurgence of bullish market sentiment. Boosted by positive external factors, traders concentrated on covering short positions. Combined with the concentrated release of pre-holiday inventory stocking demand from downstream users, transaction volumes remained high, and low-priced spot goods were largely cleared. Against this backdrop, vendors' determination to hold prices strengthened significantly, leading to steady increases in market quotes. This successfully reversed the previous downtrend, ending nearly ten days of declining prices, and helped the September DOTP market close with an upward trend.

Overall, DOTP market sentiment warmed up and transactions improved this week. External crude oil trends and geopolitical news served as the core drivers of this rally, while pre-holiday restocking further supported market strength.

3. Analysis of Market Influencing Factors

1. The capacity utilization rate of domestic DOTP plants declined during this period, with an average load of around 60%.

2. On Wednesday, the ex-factory price of DOTP in Zhejiang was 10,250 CNY/ton, an increase of 100 CNY/ton compared to last Thursday.

3. On Wednesday, the price of the main raw material, n-octanol, increased by 50 CNY/ton compared to last Thursday, while the other key raw material, PTA, rose by 40 CNY/ton compared to last Thursday.

4. Next Week's Market Forecast

It is expected that the domestic DOTP market will mainly consolidate at high levels with narrow fluctuations next week. With mixed bullish and bearish factors, the potential for price increases or decreases is limited. Prices in the Zhejiang region are projected to operate within a range of 10,200 to 10,300 CNY/ton.

Limited support from the cost side: There are expectations for a recovery in n-octanol operating rates, which will gradually release additional supply. However, enterprise inventories are not under significant pressure, and prices are close to the cost line, providing strong bottom support. International crude oil prices are likely to maintain high-level fluctuations due to uncertainties in the geopolitical situation, offering phased support to costs.

Demand enters the traditional peak season: Fundamental demand is expected to recover steadily; however, the pace of recovery is slow and weak. Downstream users have low acceptance of high-priced goods and remain cautious in procurement, mostly purchasing on demand and replenishing stocks only when prices dip. Lack of willingness to chase highs constrains both the height and sustainability of any price rebound.

In summary, while there is concurrent phased cost support and recovery in peak-season fundamental demand, these factors suggest a market characterized by consolidation at high levels with limited upside potential.