Phthalic anhydride prices hold firm as crude oil gains and DBP stays stable on rigid demand

I. Key Points

1. Downstream DBP demand remains driven by rigid procurement needs.
2. Raw material prices continue to operate at high levels.
3. On October 28: Market concerns regarding potential escalation of the US-Iran conflict, coupled with continued Houthi attacks on Saudi energy facilities, drove international crude oil prices higher. NYMEX WTI crude futures (December contract) rose by USD 2.88/bbl to USD 102.78/bbl (+2.88% MoM); ICE Brent crude futures (December contract) increased by USD 1.44/bbl to USD 115.32/bbl (+1.26% MoM). China INE crude oil futures (contract 2612) fell by CNY 9.2 to CNY 722.4/bbl during the day session and rose by CNY 15.1 to CNY 737.5/bbl in the night session.

II. Price Table

Comparison of DBP and Upstream Product Prices

Unit: CNY/ton

Data Source: Chempricehub Information

Notes:

1. DBP, naphthalene-based phthalic anhydride, and n-butanol all meet National Standard Premium Grade specifications.
2. The listed prices are spot exchange rates inclusive of VAT, denominated in CNY per ton.
3. All RMB prices in the table above represent ex-factory spot exchange rates.
4. "Previous Period" and "Current Period" refer to point-in-time prices from the two preceding working weeks prior to this week, not weekly average prices.
5. The change rate represents the month-on-month (MoM) variation.

III. Market Outlook

Yesterday, domestic DBP market prices fluctuated within a high range, with increased wait-and-see sentiment prevailing. It is reported that raw material phthalic anhydride prices continued to rise, while n-butanol maintained high operating levels. Strong cost support underpins DBP prices. Downstream procurement remains limited to rigid demand, with market inquiries and transactions centered around lower price tiers. DBP market prices are expected to continue fluctuating within a high range today.

IV. Data Calendar

Data Source: Chempricehub Information

Notes:

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