DBP Market Morning Brief

I. Key Points

1. Downstream demand for DBP is limited to essential procurement.
2. Raw material prices remain elevated.
3. On November 9: The U.S. softened its stance on potential strikes against Iran, easing supply risk concerns and causing international crude oil prices to fall. NYMEX WTI futures (December contract) closed at $86.85/barrel, down $3.98 (-4.38%); ICE Brent futures (January contract) closed at $92.57/barrel, down $5.75 (-5.85%). China INE crude oil futures (January 2027 contract) fell by CNY 1.1 to CNY 630.7/barrel; the night session dropped by CNY 25 to CNY 605.7/barrel.

II. Price Table

DBP and Upstream Product Price Comparison

Unit: CNY/ton

Data Source: Chempricehub Information

Notes:

1. DBP, naphthalene-based phthalic anhydride, and n-butanol are all National Standard Premium Grade products.
2. Prices listed are cash settlement prices including VAT, in CNY per ton.
3. All RMB prices in the table above are ex-factory cash settlement prices.
4. "Previous" and "Current" period prices refer to spot prices from the two preceding working weeks, not weekly averages.
5. The change rate represents the period-over-period percentage change.

III. Market Outlook

Yesterday, domestic DBP market prices continued to decline, with increasing wait-and-see sentiment among market participants. Both raw material prices have fallen consecutively, reducing production costs for DBP and weakening price support. Downstream buyers are limited to essential procurement and remain cautious in trading activities. Market inquiries and transactions are sluggish. DBP market prices are expected to trend downward with fluctuations today.

IV. Data Calendar

Data Source: Chempricehub Information

Notes:

1. ↓↑ indicates significant volatility, highlighting data points with changes exceeding 3%.
2. →↗↘ indicate narrow-range fluctuations, highlighting data points with changes within 0–3%.