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1. Key Focus Points

1. Downstream demand for DBP remains driven by rigid requirements.
2. Raw material prices are operating at high levels.
3. On October 29: Mediators continued to advance US-Iran peace talks, causing international crude oil prices to fall. However, the risk of conflict persisted, limiting the extent of the decline. NYMEX WTI December futures fell USD 0.78/bbl to USD 102 (-0.76% WoW); ICE Brent December futures fell USD 0.44/bbl to USD 114.88 (-0.38% WoW). China INE Crude Oil Futures (Dec '26) rose CNY 13.5 to CNY 735.9/bbl in the day session but dropped CNY 14.4 to CNY 721.5/bbl in the night session.

2. Price Data Table

Comparison of DBP and Upstream Product Prices

Unit: CNY/ton

Data Source: Chempricehub Information

Notes:

1. DBP, Phthalic Anhydride (Naphthalene Method), and n-Butanol all refer to National Standard Premium Grade products.
2. Listed prices are spot cash prices inclusive of VAT, in CNY/ton.
3. All RMB prices in the table above represent factory gate spot cash prices.
4. The "Previous" and "Current" prices reflect point-in-time prices from the two working weeks prior to this week, not weekly averages.
5. The change rate represents the period-over-period fluctuation.

3. Market Outlook

Yesterday, domestic DBP market prices oscillated at high levels, with increased wait-and-see sentiment among market participants. It is reported that raw material prices for phthalic anhydride and n-butanol remained high, strengthening cost-based support for DBP prices. Meanwhile, downstream buyers maintained rigid procurement needs, with market inquiries and transactions concentrated at lower price points. DBP market prices are expected to continue oscillating at high levels today.

4. Data Calendar

Data Source: Chempricehub Information

Notes:

1. ↓↑ indicates significant volatility, highlighting data dimensions with fluctuations exceeding ±3%.
2. →↗↘ indicates narrow-range volatility, highlighting data dimensions with fluctuations within 0–3%.