Weak buying interest in the DOP market

1. Today's Summary

① DOP market prices remained stable.
② Today’s domestic DOP capacity utilization rate was 59%.

2. Spot Market Overview

Table 1: Domestic DOP Price Summary (Unit: CNY/ton)

Data Source: Chempricehub Information

Based on the Jiangsu region as a benchmark, today’s mainstream DOP price stood at 10,850 CNY/ton delivered, consistent with morning expectations. The DOP market maintained stable pricing, though there were reports of some transactions occurring at lower prices. While traders actively sought to offload inventory, overall buying sentiment remained weak. End-users adopted a wait-and-see approach, with intraday inquiries primarily focused on small-lot rigid demand.

3. Production Dynamics

DOP capacity utilization remained at 59%. Regarding profitability, phthalic anhydride prices rose via the ortho-route, while octanol prices in East China and DOP prices remained stable, resulting in a profit margin of -65 CNY/ton.

4. Price Forecast

Transaction activity in the DOP market was average, dominated by small-lot purchases for immediate needs. Although there were reports of low-priced supply, octanol prices remained stable, and phthalic anhydride prices saw a slight increase. Cost pressures remain significant in certain local markets. It is expected that the DOP market will maintain a consolidating trend tomorrow.

5. Related Products Status

Octanol Market: Today, the domestic octanol market center remained stable. The sharp decline in feedstock propylene prices alleviated cost pressures for octanol producers, leading major factories to maintain stable quotations. Downstream users are currently digesting existing raw material inventories, resulting in mediocre buying sentiment in the market today. The related product n-butanol market showed weakness, with market confidence somewhat dampened.

6. Data Calendar

Table 2: Domestic DOP Data Overview (Unit: 10k tons, CNY/ton)