Raw Materials: The average price of octanol increased by 4.05%, and the average price of phthalic anhydride (PA) rose by 4.64%.
Production: Capacity utilization stood at 53%, down 2% month-on-month, with new capacity added.
| Figure 1: Domestic DOP Price Trend Chart (Unit: CNY/ton) |
|---|
| Source: Chempricehub Information |
Monthly Price Change Table for Domestic DOP Market
Unit: CNY/ton
| Product | Region | Current Avg. Price | Previous Avg. Price | Same Period Last Year | MoM Change | YoY Change |
|---|---|---|---|---|---|---|
| DOP | North China | 10557 | 10053 | 6825 | 5.01% | 54.68% |
| East China | 10787 | 10337 | 6992 | 4.35% | 54.28% | |
| South China | 10827 | 10392 | 7119 | 4.19% | 52.09% |
Source: Chempricehub Information
The average DOP market price in October was 10,787 CNY/ton, representing a 4.35% increase month-on-month and a 54.28% rise year-on-year. In October, DOP prices exhibited a phased upward trend, repeatedly hitting two-year highs. Before the National Day holiday, end-user stockpiling was limited. After the holiday, rising crude oil prices triggered concentrated restocking among downstream users, supporting DOP price increases through transaction volume. However, resistance to passing on higher costs emerged at elevated price levels. In late October, consecutive price hikes in octanol and phthalic anhydride provided cost-side support for DOP. Since most end-users lacked high inventory reserves, transactions at these elevated levels were primarily driven by rigid demand. Consequently, DOP prices continued their phased upward trajectory due to both transaction activity and cost pressures.
① The market price of raw material octanol rose by 4.05%, while the DOP market price increased by 4.35%.
② DOP units that had been shut down gradually resumed operations, leading to a 6.02% increase in production output.
③ Rising prices for raw materials octanol and phthalic anhydride pushed up DOP costs, driving price increases and improving monthly average profits.
A slight increase in production is expected in November. Currently, most existing units are operating stably at high rates, and known production losses from shutdowns next month are minimal. Additionally, considering moderate production plans at Lingchuang facilities, a larger increase in output is anticipated. The octanol market may continue to operate at high levels, and market participants hold slightly bullish views on crude oil price trends, providing positive sentiment support for buyers. Although current high market prices inhibit some speculative stock-building transactions, phased concentrated buying still supports prices. It is projected that the DOP market will maintain its high-level trend in November, with an average price forecast around 11,100 CNY/ton.
For more detailed monthly market analysis, please refer to the Chempricehub Information DOP Monthly Report.
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