Raw Materials: The average price of octanol rose by 12.08%, and the average price of phthalic anhydride increased by 7.58%.
Production: Capacity utilization was 55%, up 2% month-on-month.
Domestic DOP Price Trends (Unit: RMB/ton)
Source: Chempricehub Information
| Product | Region | Current Avg. Price | Previous Avg. Price | Same Period Last Year | MoM Change | YoY Change |
|---|---|---|---|---|---|---|
| DOP | North China | 10,053 | 8,921 | 7,307 | 12.69% | 37.58% |
| East China | 10,337 | 9,109 | 7,465 | 13.48% | 38.47% | |
| South China | 10,392 | 9,109 | 7,543 | 14.08% | 37.77% |
Source: Chempricehub Information
In September, the average domestic DOP market price stood at 10,337 RMB/ton, representing a month-on-month increase of 13.48% and a year-on-year increase of 17.32%. At the beginning of September, DOP prices were relatively low. However, as crude oil and propylene prices surged significantly, trading activity improved from lower levels. Increased transaction volumes supported upward price momentum, driving prices to new annual highs. Nevertheless, acceptance of higher prices declined, leading to weaker market transactions. Some traders engaged in short-selling operations, accelerating the downward trend. Once prices returned to relatively lower levels, transactions gradually recovered, supported by restocking from end-users and cover-buying by traders, which boosted trading volumes. Additionally, appropriate pre-holiday stocking ahead of the National Day holiday contributed to a price rebound before the break.
① The market price of raw material octanol increased by 12.08%, while the DOP market price rose by 13.48%.
② Both DOP demand and production increased, with production rising by 0.28%.
③ Prices for raw materials octanol and phthalic anhydride climbed, causing DOP prices to follow suit, resulting in a slight recovery in monthly average profit margins.
Although October production is expected to decrease slightly, the tight supply situation seen previously has shifted during the initial return to business after the long holiday. There are accumulated inventories from the holiday period that need to be digested. Downstream end-users are expected to maintain procurement based primarily on essential demand. Major suppliers are likely to quote prices within a narrow fluctuation range while actively pushing sales. Market trends remain dependent on developments in the crude oil market. The volatility range for DOP prices in October is expected to narrow, with an average price forecast around 10,300 RMB/ton.
For more detailed monthly market analysis, please refer to the Chempricehub DOP Monthly Report.
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