Morning Market Update for DBP

I. Key Focus Points

1. Downstream demand for DBP remains rigid, with cautious purchasing on dips.
2. Raw material prices remain at elevated levels.
3. Oct 15: Tightening geopolitical tensions in the Middle East sustained supply risks, while market sentiment regarding global demand remained pessimistic. International crude oil prices closed mixed. NYMEX WTI November futures rose by $2.88/bbl to $97.97/bbl (+3.03% WoW); ICE Brent December futures fell by $0.14/bbl to $105.92/bbl (-0.13% WoW). INE Crude Oil SC December 2026 futures dropped by 21.3 CNY/barrel to 725.2 CNY/barrel during the day session, then gained 0.8 CNY/barrel to 726 CNY/barrel in the night session.

II. Price Table

Comparison of DBP and Upstream Product Prices

Unit: CNY/ton

Data Source: Chempricehub

Notes:

1. DBP, naphthalene-based phthalic anhydride, and n-butanol are all qualified as first-grade products according to national standards.
2. Prices listed are spot cash inclusive of VAT, in CNY/ton.
3. All RMB prices in the table above are ex-factory spot cash prices.
4. The "Previous Period" and "Current Period" prices represent point-in-time values from the two working weeks preceding this week, not weekly averages.
5. The change rate refers to the period-over-period percentage change.

III. Market Outlook

Yesterday, the domestic DBP market fluctuated at high levels, with increased wait-and-see sentiment among participants. It is reported that the market prices for raw materials (phthalic anhydride and n-butanol) declined amidst fluctuations. Although production costs decreased accordingly, they remained at elevated levels, providing some support to DBP prices. Market supply was limited, while downstream users maintained rigid demand, primarily purchasing on dips with cautious trading strategies. Inquiries and transactions were average. The DBP market price is expected to undergo fluctuating adjustments today.

IV. Data Calendar

Data Source: Chempricehub

Notes:

1. ↓↑ indicates significant volatility, highlighting data dimensions where the percentage change exceeds 3%.
2. →↗↘ indicates narrow-range volatility, highlighting data dimensions where the percentage change is within 0–3%.