DBP Market Morning Brief (September 15, 2026)

I. Key Focus Points

1. Downstream demand for DBP (Dibutyl Phthalate) has improved.
2. Raw material prices remain at high levels, providing cost support.
3. On September 14: Disruption in Saudi crude oil pipeline transportation occurred. Continued pressure from Houthi forces has exacerbated supply risks, driving up international oil prices. NYMEX WTI crude oil futures (October contract) rose by $1.34/barrel to $101.39/barrel, a week-on-week increase of +1.34%. ICE Brent crude oil futures (November contract) rose by $1.07/barrel to $105.68/barrel, a week-on-week increase of +1.02%. China INE crude oil futures (contract 2611) increased by 19.8 yuan/barrel to 776.5 yuan/barrel; the night session further surged by 45 yuan/barrel to 821.5 yuan/barrel.

II. Price Table

Comparison of DBP and Upstream Product Prices

Unit: CNY/ton

Data Source: Chempricehub Information

Notes:

1. DBP, Naphthalene-based PA, and n-Butanol are all National Standard Premium Grade products.
2. The listed prices are spot cash prices including VAT, in CNY/ton.
3. All RMB prices in the table above are ex-factory spot cash prices.
4. The "Previous Period" and "Current Period" prices represent snapshot prices from the two preceding working weeks before this week, not weekly averages.
5. The change rate is the period-over-period percentage change.

III. Market Outlook

Yesterday, domestic DBP market prices remained flat with increasing wait-and-see sentiment. It is reported that the raw material n-butanol market fluctuated weakly, while phthalic anhydride prices continued to run high. Consequently, cost-side support remains the primary factor for DBP. Downstream purchasing enthusiasm has weakened slightly, with inquiries and trading volumes remaining average. DBP market prices are expected to trend weakly today.

IV. Data Calendar

Data Source: Chempricehub Information

Notes:

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