Morning Market Insight for the DBP Market

I. Key Points

1. Downstream buyers of DBP are adopting a cautious approach, purchasing only at low prices.
2. Raw material prices continue to rise.
3. Oct 9: Both the US and Iran stated that negotiations and dialogues are ongoing, easing market concerns. However, hurricanes continued to suppress US crude oil production, leading to higher international oil prices. NYMEX November crude oil futures closed at $91.85/barrel, up $0.36/barrel (+0.39% WoW); ICE Brent December futures closed at $104.72/barrel, up $0.44/barrel (+0.42% WoW). China INE November 2026 crude oil futures rose by 3.9 yuan to 741.3 yuan/barrel, while the night session fell by 1.5 yuan to 739.8 yuan/barrel.

II. Price Table

Comparison of DBP and Upstream Product Prices

Unit: RMB/ton

Data Source: Chempricehub Information

Notes:

1. DBP, naphthalene-based phthalic anhydride, and n-butanol all meet the National Standard Premium Grade specifications.
2. The prices listed are spot exchange rates including VAT, in units of RMB/ton.
3. All RMB prices in the table above are factory gate spot exchange prices.
4. The "Previous Period" and "Current Period" prices represent point-in-time prices from the two working weeks prior to this week, not weekly average prices.
5. The change rate refers to the period-over-period (WoW) variation.

III. Market Outlook

Yesterday, domestic DBP market prices rose consecutively. It is reported that the price centers for raw materials, phthalic anhydride, and n-butanol have increased, maintaining strong cost support. Downstream users mainly engage in opportunistic buying based on rigid demand. Overall operating rates for DBP remain medium-to-low, with limited market supply. Therefore, DBP market prices are expected to fluctuate slightly upward today.

IV. Data Calendar

Data Source: Chempricehub Information

Notes:

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