Market Center of Gravity for Octanol Declines

I. Today's Summary

1. Feedstock propylene prices fell significantly, leading to lower costs for 2-ethylhexanol (EHA).
2. Today’s domestic EHA plant operating rate stood at 76%; downstream DOP plant operating rate was 56%, and DOTP plant operating rate was 69%.
3. Recent increases in downstream operating rates have alleviated supply pressure on EHA.

II. Spot Market Overview

Table 1: Price Summary of Domestic EHA and Major Downstream Products (Unit: CNY/ton)

Today, the ex-factory price of EHA in Shandong was 9,350 CNY/ton, while the reference price in the Jiangsu market was 9,450 CNY/ton. The center of gravity for the domestic EHA market shifted downward today. Rigid demand buyers entered the market to replenish stocks, resulting in improved transaction volumes compared to yesterday. Feedstock propylene prices continued to decline sharply, lowering the cost line for EHA. Mainstream plants operated stably, with manufacturers focusing primarily on shipment.

III. Production Dynamics

Today, the domestic capacity utilization rate for EHA was 76%. With feedstock propylene prices dropping significantly, the listed contract price for Shandong EHA was 9,400 CNY/ton, yielding a gross margin of 15 CNY/ton for Shandong EHA producers.

IV. Price Forecast

EHA prices have declined consecutively. However, rigid demand from the market provides support for low-priced offers, alleviating short-term sales pressure. The EHA market is expected to remain stable tomorrow.

V. Related Product Status

Today, prices for feedstocks phthalic anhydride and n-butanol (Note: Context implies butyl alcohol or similar, but text says "Xin Chun" which is likely a typo for Butanol or refers to EHA itself in context of DOP production; standard DOP uses Phthalic Anhydride + 2-Ethylhexanol. Given the previous section discusses EHA, and DOP price drop, we assume "Xin Chun" refers to EHA here as well, or potentially a translation artifact for Butanol if discussing DBP, but DOP uses EHA. Let's stick to the chemical logic: DOP = Di-Octyl Phthalate. Inputs are PA + EHA. Text says "Xin Chun" (likely EHA) and "Ben Gan" (Phthalic Anhydride) prices dropped.) Prices for key raw materials EHA and phthalic anhydride declined. Consequently, the DOP market price continued to fall. Trading was mainly based on negotiations, with overall market sentiment lacking strength. Transactions remained limited to small-volume rigid demand orders. End-users showed a wait-and-see attitude regarding purchases.

VI. Data Calendar

Table 2: Domestic EHA Data Overview (Unit: 10,000 tons, CNY/ton)