DBP Morning Market Commentary (September 8, 2026)

I. Focus Points

1. Downstream buying intention for DBP has turned weaker.

2. Raw material prices remain high, offering some cost support.

3. On 9/7: As the U.S.-Iran conflict has not yet subsided and Saudi oil facilities were attacked, supply risks persist and international oil prices rose. NYMEX crude oil futures were closed for one day due to the U.S. Labor Day holiday, with no settlement price; ICE Brent crude oil futures for the November contract rose by $0.72/barrel to $97/barrel, up +0.75% period-over-period. China's INE crude oil futures for the 2610 contract rose 5.4 to 688.5 yuan/barrel, and rose 11.9 to 700.4 yuan/barrel in the night session.

II. Price List

Price comparison of DBP and upstream products

Unit: yuan/ton

Data source: Chempricehub Information

Notes:

1. DBP, naphthalene-based phthalic anhydride, and n-butanol are all national-standard top-grade products.
2. Prices in this list are spot-exchange prices inclusive of tax, in yuan/ton.
3. The RMB prices in the table above are all ex-plant spot-exchange prices.
4. The prices for the two periods are point-in-time prices for the two working weeks before the current week, not weekly averages.
5. The change rate is the period-over-period change rate.

III. Market Outlook

Yesterday, the domestic DBP market price fluctuated and consolidated, with a stronger wait-and-see atmosphere. Raw material prices remained high, providing certain support on the cost side. Downstream buyers made cautious purchases based on rigid demand, while market inquiries and transaction volumes were generally moderate, with some resistance to high prices. The DBP market price is expected to stabilize and consolidate today.

IV. Data Calendar

Data source: Chempricehub Information

Notes:

1. ↓↑ are regarded as significant fluctuations, highlighting data dimensions with a change of more than 3%.
2. →↗↘ are regarded as narrow fluctuations, highlighting data dimensions with a change within 0–3%.