Morning Market Briefing for the DBP (Dibutyl Phthalate) Market (September 20, 2026)

I. Key Focus Points

1. Downstream procurement of DBP remains primarily driven by rigid demand.
2. High raw material prices provide some cost support.
3. On September 18: Expectations for the repair of Saudi oil pipelines improved, coupled with signs of easing tensions in the Middle East, leading to a decline in international crude oil prices. NYMEX WTI crude oil futures (October contract) fell by $1.61/bbl to $100.3, down -1.58% week-on-week; ICE Brent crude oil futures (November contract) fell by $0.95/bbl to $103.87, down -0.91% week-on-week. INE crude oil futures in China (November 2026 contract) dropped by 50.6 yuan/bbl to 754.4 yuan/bbl, and fell another 19.6 yuan/bbl to 734.8 yuan/bbl during the night session.

II. Price List

Comparison of DBP and Upstream Product Prices

Unit: Yuan/ton

Data Source: Chempricehub Information

Notes:

1. DBP, Phthalic Anhydride (Naphthalene Process), and n-Butanol are all standard-grade products meeting national standards.
2. The prices listed are spot cash prices including VAT, in Yuan/ton.
3. All RMB prices in the table above are ex-factory spot cash prices.
4. The two periods refer to point-in-time prices from the past two working weeks prior to this week, not weekly averages.
5. The change rate is the week-on-week percentage change.

III. Market Outlook

Yesterday, the domestic market price for DBP experienced a weak downward trend, with increased wait-and-see sentiment. It is reported that the markets for raw materials phthalic anhydride and n-butanol were sluggish and declining. As the high-cost pressure on DBP decreased, its price support weakened. At this time, downstream market procurement is mainly driven by rigid demand, while market inquiries and transaction volumes remain average. It is expected that today's DBP market price will fluctuate within a weak range.

IV. Data Calendar

Data Source: Chempricehub Information

Notes:

1. ↓↑ indicates significant fluctuations, highlighting data dimensions where changes exceed 3%.
2. →↗↘ indicate narrow-range fluctuations, highlighting data dimensions where changes are within 0–3%.