DOP market sees weakening demand

1. Today's Summary

① DOP market prices remained stable.

② Domestic DOP capacity utilization stood at 55% today.

2. Spot Market Overview

Table 1: Summary of Domestic DOP Prices (Unit: CNY/ton)

Data Source: Chempricehub

Taking the Jiangsu region as a benchmark, the mainstream delivered price for DOP was 10,750 CNY/ton today, consistent with morning expectations. Despite a slight rise in raw material 2-Ethylhexanol (2-EH) prices, the DOP market maintained a steady trend, with cost support failing to effectively transmit downstream. Buying interest within the market was weak, negotiation activity was sparse, and overall transaction volumes remained flat.

3. Production Dynamics

DOP capacity utilization held at 55%. Regarding profitability, Phthalic Anhydride (PA) prices via the ortho-xylene process remained stable, while 2-EH prices in East China rose. With DOP prices stable, the profit margin stood at -28 CNY/ton.

4. Price Forecast

Raw material prices continue to provide certain support to the market. Downstream buyers maintain rigid demand purchasing, but overall demand strength is insufficient to match cost support, resulting in limited willingness to follow price increases. However, supply-side increments are being released, leading to a slightly loose supply-demand pattern. In the short term, the market lacks clear drivers, and DOP prices are expected to primarily undergo consolidation.

5. Related Product Status

2-Ethylhexanol (2-EH) Market: The center of gravity for the domestic 2-EH market continued to rise today. Although cost support weakened slightly, spot supply tightened due to reduced available tradeable inventory. Meanwhile, downstream operating rates gradually recovered, leading to an increase in rigid demand procurement. Under the combined influence of tight supply and demand recovery, the 2-EH market center moved higher, driven by rigid demand buying.

6. Data Calendar

Table 2: Domestic DOP Data Overview (Unit: 10k tons, CNY/ton)

Data Source: Chempricehub
Notes:

1. ↓↑ indicates significant fluctuation, highlighting data dimensions with changes exceeding 3%.
2. ↗↘ indicates narrow fluctuation, highlighting data dimensions with changes within 0-3%.