DOTP market prices decline

1. Daily Summary

① Domestic DOTP market prices declined today, with a drop of 100–150 CNY/ton.
② Today’s domestic DOTP capacity utilization rate was 69%, indicating that overall operating rates are currently at a relatively high level for the year.

2. Spot Market Overview

Table 1: Summary of Domestic DOTP Prices (Unit: CNY/ton)

Based on the Zhejiang region, today’s quoted price for DOTP in the Zhejiang market closed at 10,800 CNY/ton, down 100 CNY/ton from the previous working day, consistent with morning expectations.

Today, domestic DOTP market prices continued to decline, with drops ranging from 100 to 150 CNY/ton. Raw material prices for both isobutanol and PTA fell, creating negative pressure on DOTP costs. Meanwhile, there were no signs of improvement on the demand side. Particularly amid a lack of confidence among market participants regarding future trends, buying interest remained cautious, and procurement was limited to rigid demand. Consequently, DOTP prices faced downward pressure.

3. Production Dynamics

Today’s domestic DOTP capacity utilization rate stood at 69%, with operating levels remaining relatively high. Regarding profitability, the price of raw material isobutanol in East China declined, as did the price of another key raw material, PTA. The price of DOTP in the Zhejiang market also dropped; however, since the decline in product price was smaller than the drop in cost, the theoretical profit margin for sample enterprises in the Zhejiang region improved. Today’s theoretical profit was 732 CNY/ton.

4. Price Forecast

On the cost side, transactions for new orders of core raw material isobutanol have not yet shown improvement, keeping prices under pressure. Cost support for another raw material, PTA, has weakened, suggesting that the short-term spot market may remain under pressure. The cost landscape for DOTP continues to be dominated by bearish factors, while demand shows no signs of recovery. New order transactions for DOTP are sluggish, maintaining downward price pressure. The market is expected to trend weaker tomorrow.

5. Raw Material Markets

The center of gravity for the domestic isobutanol market continued to fall today. Both international crude oil prices and raw material propylene prices declined, leaving market sentiment without support. Buyers adopted a cautious approach towards spot isobutanol procurement, resulting in a quiet negotiation atmosphere. Some actual transaction negotiations occurred at lower prices, affecting current listed prices.

6. Data Calendar

Table 2: Domestic DOTP Data Overview (Unit: 10,000 tons, CNY/ton)