Production: The average operating rate of domestic DOTP plants was 59.48% this period.
Cost: Prices of the main raw material, 2-ethylhexanol (Octanol), rose, while the average price of PTA declined.
Profit: The theoretical daily profit for sample DOTP enterprises was approximately 301 CNY/ton.
| Product | Region/Category | Current Period Average | Previous Period Average | Change | % Change | Unit |
|---|---|---|---|---|---|---|
| Octanol | Shandong | 9590 | 9267 | 323 | 3.49% | CNY/ton |
| PTA | East China | 6966 | 7331 | -365 | -4.98% | CNY/ton |
| DOTP | Zhejiang | 10660 | 10575 | 85 | 0.80% | CNY/ton |
| DOP | Zhejiang | 10800 | 10708 | 92 | 0.86% | CNY/ton |
Data Source: Chempricehub Information
Domestic DOTP market prices stabilized after an initial rise this period. Quotations in the Zhejiang region ranged from 10,550 to 10,750 CNY/ton during the week. At the beginning of the week, firm upward movement in Octanol prices provided strong cost-side support, attracting downstream buyers to stage opportunistic restocking at lower levels. This led to increased transaction volumes for low-priced goods and prompted DOTP traders to test higher quotations. However, end-user demand has not shown substantive recovery; most restocking activities were short-term operations with weak sustainability. Downstream players showed limited enthusiasm for following up on high DOTP prices, causing transactions to quickly stall after the price increase. The market is currently caught in a tug-of-war between firm costs and weak demand, resulting in a dilemma regarding further price movements. Consequently, the overall trend throughout the week was consolidation and stabilization. Amid pressure from high prices, the afternoon surge in crude oil futures today boosted market sentiment, stimulating buyers to restock at lower levels and providing some floor support for DOTP prices. In the short term, the market will continue to wait for further guidance from both the cost and demand sides.
Domestic DOTP plant capacity utilization rose this period, with an average operating load of approximately 59%.
As of Thursday, the ex-factory price of DOTP in Zhejiang was 10,700 CNY/ton, an increase of 100 CNY/ton compared to last Thursday.
As of Thursday, the price of the main raw material, Octanol, increased by 150 CNY/ton compared to last Thursday, while the other key raw material, PTA, decreased by 60 CNY/ton.
The domestic DOTP market price is expected to consolidate at high levels next period. The price range in the Zhejiang region is projected to be 10,600–10,800 CNY/ton.
On the cost side, the core raw material, Octanol, remains supported and is expected to maintain high-level consolidation. For PTA, supply-demand balance sheets suggest a slight inventory accumulation expectation. Combined with various external disturbances, the market may experience volatile consolidation. DOTP cost factors present a mix of bullish and bearish signals without substantial drivers for a directional move, limiting price fluctuation space, though low-priced goods have cost-based floor support.
On the demand side, current DOTP prices have reached year-to-date highs, but end-user demand performance remains flat. Downstream players are maintaining only rigid demand purchases, showing weak willingness to actively build inventories at high prices. Sustained transaction volumes are difficult to achieve, which suppresses further price increases.
In summary, the tug-of-war between cost and demand in the DOTP market continues. The market is expected to undergo stagnant consolidation next week, with buying activity primarily consisting of staged restocking at lower levels. Future developments should focus on geopolitical dynamics, remaining vigilant against market volatility risks caused by rapid reversals in crude oil sentiment.
Comments
0