DBP market prices remain at high levels

1. Daily Summary

① Today, DBP prices in the Shandong region of China rose by 50 RMB/ton, while prices remained stable in other regions.

② Today, the domestic DBP operating rate was 40%.

2. Spot Market Overview

Table 1: Domestic DBP Industry Chain Price Summary (Unit: RMB/ton)

Based on the Henan region as a benchmark, today's DBP closed at 10,400–10,500 RMB/ton, consistent with morning expectations. Today, domestic DBP market prices fluctuated within a narrow range, and market wait-and-see sentiment intensified. Raw material naphthalene-based phthalic anhydride showed weak downward pressure, while n-butanol prices stabilized at high levels. Consequently, high production costs provided strong support for DBP prices. Meanwhile, low operating rates resulted in limited supply from producers, further supporting price stability. Downstream users maintained essential demand and purchased opportunistically when prices dipped, leading to cautious trading activities across the market.

3. Production Dynamics

Today, the capacity utilization rate for domestic DBP was 40%. The current profitability level for DBP products is approximately 531 RMB/ton.

4. Price Forecast

Currently, DBP raw materials are trading at high levels, and significant cost pressures provide strong support for DBP prices. Combined with limited market supply, DBP prices are consolidating at high levels. However, downstream users show some resistance to these high prices, and market inquiries and transactions have declined. It is expected that the DBP market will experience volatile consolidation in the near future.

5. Related Products

DOP Market: Today, some DOP markets continued to offer discounts to clear inventory. Prices for 2-Ethylhexanol (Octanol) continued to rise, and increasing crude oil prices boosted some buying sentiment. The atmosphere for transactions at lower prices improved, with end-users making necessary purchases based on actual demand. In the afternoon, fewer offers were available at lower prices, but follow-up transactions at higher prices were insufficient.

Table 2: Domestic DBP Data Overview (Unit: 10,000 tons, RMB/ton)

Note: ↗ indicates a sharp increase; ↘ indicates a slight decrease.