Octanol Market Center of Gravity Rises; Strong Demand-Driven Procurement

1. Daily Summary

① Spot transaction prices for 2-EH (2-ethylhexanol) in Shandong ranged from RMB 9,300 to 9,400 per tonne. Mainstream ex-factory prices resulted in a loss of RMB 160 per tonne.

② Today’s domestic operating rate for 2-EH plants was 72%. The downstream DOTP (dioctyl terephthalate) plant operating rate was 56%, and the DOP (dioctyl phthalate) plant operating rate was 52%.

2. Spot Market Overview

Table 1: Summary of Domestic 2-EH and Key Downstream Prices (Unit: RMB/tonne)

Today, ex-factory prices for 2-EH in Shandong were quoted at RMB 9,300–9,400 per tonne, while reference prices in the Jiangsu market stood at RMB 9,500–9,550 per tonne. Domestic 2-EH market prices rose today. Although propylene feedstock prices softened slightly, 2-EH production costs remained inverted (costs exceeding sale prices). Buyer interest in low-priced offers remained moderate, causing transaction centers to gradually shift higher. Overall trading sentiment was flat, with buyers primarily engaging in essential restocking.

3. Production Dynamics

Today’s domestic capacity utilization rate for 2-EH was approximately 72%. Propylene feedstock prices in Shandong dropped by RMB 45 per tonne to RMB 10,700 per tonne. Contract listing prices for 2-EH in Shandong were set at RMB 9,400 per tonne, resulting in a cost-based loss of RMB 160 per tonne.

4. Price Forecast

Propylene feedstock prices have softened slightly, weakening the upward momentum for the 2-EH market. Buyers are engaged in essential restocking, and general trading sentiment remains average. However, due to the ongoing inversion of 2-EH production costs, the market center is expected to rise slightly tomorrow.

5. Related Products Status

Today, feedstock prices for 2-EH and phthalic anhydride rose. In the DOP market, sellers actively pushed shipments, leading to slight price softening. This significantly impacted buyer sentiment, resulting in a noticeable decline in intraday trading activity, with transactions mainly consisting of small-volume essential purchases.

6. Data Calendar

Table 2: Domestic 2-EH Data Overview (Units: 10,000 tonnes, RMB/tonne)