Morning Market Insights for the DBP Market

I. Key Points

1. Downstream buyers of DBP are purchasing cautiously at lower levels.
2. Raw material prices continue to rise.
3. Oct 12: Houthi armed forces continued attacks on Saudi Arabia. The instability in the Middle East has increased supply risks, pushing up international oil prices. NYMEX crude oil futures (November contract) rose by USD 1.89/barrel to USD 93.74/barrel, a month-on-month increase of +2.06%; ICE Brent crude oil futures (December contract) rose by USD 1.93/barrel to USD 106.65/barrel, a month-on-month increase of +1.84%. China INE crude oil futures (December 2026 contract) fell by RMB 8.9 to RMB 709.5/barrel; the night session rose by RMB 24.7 to RMB 734.2/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 are all National Standard First Grade products.
2. Prices listed are spot cash prices inclusive of tax, in RMB per ton.
3. All RMB prices in the table above are ex-factory spot cash prices.
4. The "Previous Period" and "Current Period" prices refer to point-in-time prices from the two preceding working weeks before this week, not weekly average prices.
5. The change rate refers to the period-on-period percentage change.

III. Market Outlook

Yesterday, the domestic DBP market price center moved higher. It is reported that raw material phthalic anhydride prices surged significantly, while n-butanol prices remained stable at high levels. Consequently, DBP production costs remain elevated, providing strong support for its price. Additionally, DBP operating rates have remained low, limiting market supply. However, downstream buyers are primarily maintaining essential demand-driven purchases at lower levels, adopting a cautious trading approach. Market inquiries and transactions were moderate. Today, DBP market prices are expected to remain elevated.

IV. Data Calendar

Data Source: Chempricehub Information

Notes:

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