a) Production: October DOTP output reached 173,900 tons, up 3.95% month-over-month (MoM).
b) Profit: October DOTP enterprise margins declined slightly. Taking the Zhejiang market as an example, the monthly average profit was 259 RMB/ton.
c) Others: The average price of raw material isooctanol rose 3.58% MoM, and the average price of PTA rose 4.73% MoM.
| Figure 1: Domestic DOTP Market Price Trend Chart (Unit: RMB/ton) |
|---|
| Data Source: Chempricehub Information |
Domestic DOP Market Monthly Price Change Table
Unit: RMB/ton
| Product | Region/Category | Current Period Average | Previous Period Average | Change Value | Change Rate | Unit |
|---|---|---|---|---|---|---|
| Isooctanol | Shandong | 9433 | 9107 | 326 | 3.58% | RMB/ton |
| PTA | East China | 7190 | 6865 | 325 | 4.73% | RMB/ton |
| DOTP | Zhejiang | 10637 | 10252 | 385 | 3.76% | RMB/ton |
| Jiangsu | 10740 | 10357 | 383 | 3.70% | RMB/ton | |
| Guangdong | 10760 | 10457 | 303 | 2.90% | RMB/ton | |
| North China | 10550 | 10155 | 395 | 3.89% | RMB/ton | |
| Shandong | 10553 | 10145 | 408 | 4.02% | RMB/ton | |
| DOP | Zhejiang | 10760 | 10276 | 484 | 4.71% | RMB/ton |
Data Source: Chempricehub Information
This month, domestic DOTP market prices trended upward with volatility. In the Zhejiang market, for instance, prices fluctuated within a range of 10,300–11,000 RMB/ton during the month.
Costs were the primary bullish factor this month. Recurring geopolitical tensions in the Middle East and restrictions on strait shipping drove up international crude oil prices, strengthening overall sentiment in the energy and chemicals sector. This led to simultaneous increases in the prices of isooctanol and PTA, raising the cost baseline for raw materials. However, divergence in raw material trends meant that periodic pullbacks briefly weighed on market psychology. On the demand side, activity was primarily driven by post-holiday restocking by downstream factories and traders covering short positions. Short-term concentrated procurement boosted transaction volumes, but there was no substantial recovery in end-user demand, limiting the sustainability of restocking efforts. As prices climbed to high levels, downstream acceptance of elevated prices remained low. Most participants adopted a wait-and-see approach, purchasing only essential quantities at lower prices, resulting in weak follow-through on high-priced orders. The market repeatedly surged before entering a stalemate. Tight spot supply provided support, while fluctuations in crude oil futures bolstered trader confidence, limiting downside correction potential. The market oscillated between cost support and sluggish demand recovery, ending the month with firm high-level pricing. Future developments will depend heavily on tracking crude oil and raw material price trends, as well as changes in genuine end-user demand.
The theoretical monthly average profit for DOTP enterprises was 259 RMB/ton this month.
Average prices for raw materials isooctanol and PTA both increased.
Looking ahead to November, the domestic DOTP market is expected to maintain a pattern of high-level consolidation. Tight spot supply combined with solid cost support will provide certain bullish factors for DOTP prices; however, cautious buying interest at high price levels will limit upside momentum.
On the demand side, downstream demand in November is expected to continue its gradual recovery, providing fundamental support for the DOTP market. Meanwhile, tight spot supply will likely persist in the early part of the month, offering further support. Nevertheless, given the current high price environment, downstream reluctance to chase rising prices may suppress upward potential and weaken the sustainability of the rally.
The cost side remains the core support for the market. In November, incremental supply of isooctanol is expected to be limited. Coupled with ongoing uncertainties regarding geopolitical risks, international crude oil prices may remain elevated due to risk-averse sentiment, driving strength across the energy and chemicals sector. This will continue to reinforce the cost foundation for DOTP, supporting high-level market operations.
Overall, while the DOTP market in November benefits from both cost-side strengths and recovering essential demand, the limited ability of downstream users to absorb high prices restricts upside potential. The market is expected to consolidate at high levels, with mainstream transaction prices for DOTP in the Zhejiang region likely fluctuating within the range of 10,600–11,300 RMB/ton.
For more monthly market analyses, please refer to the Chempricehub Information DOTP Monthly Report.
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