DOTP Market Prices Decline

1. Today's Summary

① Domestic DOTP prices fell today, with a decline of 50–100 CNY/ton.
② The domestic DOTP capacity utilization rate was 69%, which is currently at a relatively high level for the year.

2. Spot Market Overview

Table 1: Domestic DOTP Price Summary (Unit: CNY/ton)

Based on the Zhejiang region, today's DOTP offer price in Zhejiang closed at 10,700 CNY/ton, down 100 CNY/ton from the previous trading day, consistent with morning expectations.

Domestic DOTP prices continued to fall today, with declines ranging from 50 to 100 CNY/ton. Prices for upstream propylene and raw material isobutanol both decreased, leaving the cost side without support. Sellers were eager to secure orders, leading to frequent low-price offers in the market. However, rigid demand from buyers remained weak, and the overall trading atmosphere showed no signs of improvement. Market participants are cautiously monitoring raw material trends.

3. Production Dynamics

Today, the domestic DOTP capacity utilization rate stood at 69%, indicating that operating rates are currently at a relatively high level. Regarding profits, the price of isobutanol in East China fell, while PTA prices remained stable. DOTP prices in the Zhejiang market also declined, but the drop was smaller than the decrease in costs. Consequently, the theoretical profit margin for sample enterprises in the Zhejiang region improved, reaching a theoretical profit of 767 CNY/ton today.

4. Price Forecast

On the cost side, transactions for the core raw material isobutanol have improved at lower price levels, suggesting prices may stabilize temporarily at these lows. The market for the other raw material, PTA, remains stagnant and consolidating. The cost side of DOTP currently lacks positive support, and pressure from sluggish new order transactions persists. It is expected that the DOTP market will operate steadily but weakly tomorrow, with buyers potentially making phased rigid-demand restocking purchases at lower prices.

5. Raw Material Markets

In the Shandong isobutanol market today, mainstream transactions ranged from 9,300 to 9,300 CNY/ton. Ex-works prices saw an accelerated decline. Buyers engaged in opportunistic restocking at lower prices, leading to a slight improvement in the trading atmosphere. Propylene prices dropped significantly, with buying primarily driven by rigid demand restocking.

6. Data Calendar

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