Morning Market Update for DBP

I. Key Points

1. Downstream demand for DBP remained cautious, with buyers purchasing only essential volumes at lower price levels.
2. Raw material prices stayed at elevated levels.
3. On October 21: Geopolitical instability in the Middle East persisted, while both Russia and Ukraine signaled willingness for peace talks, leading to mixed movements in international crude oil prices. NYMEX WTI crude oil futures (December contract) settled at $97.15/bbl, down $0.67/bbl (-0.68% WoW); ICE Brent crude oil futures (December contract) closed at $108.82/bbl, up $0.03/bbl (+0.03% WoW). China INE crude oil futures (contract 2612) fell by RMB 26.5 to RMB 700.8/bbl; the night session declined by RMB 10.5 to RMB 690.3/bbl.

II. Price Table

Comparison of DBP and Upstream Product Prices

Unit: RMB/ton

Data Source: Chempricehub Information

Notes:

1. DBP, naphthalene-based phthalic anhydride (PA), and n-butanol are all National Standard Grade Premium products.
2. The listed prices are spot cash prices inclusive of VAT, denominated in RMB per ton.
3. All RMB prices in the table above represent ex-factory spot cash prices.
4. "Previous" and "Current" period prices refer to snapshot prices from the two preceding working weeks prior to this week, not weekly averages.
5. The change rate represents the week-over-week percentage variation.

III. Market Outlook

Yesterday, the domestic DBP market traded sideways amid heightened wait-and-see sentiment. The upstream n-butanol market continued its downward trend, weakening cost support for DBP prices. Downstream users maintained a strategy of purchasing only essential volumes at lower prices, acting cautiously in trading decisions. Market inquiries and transactions were generally average. DBP prices are expected to fluctuate downwards today.

IV. 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%.