I. Key Points

1. Downstream essential demand for DBP procurement.
2. Raw material prices remain at high levels.
3. On November 2, multiple parties continued to promote US-Iran peace talks, easing market concerns about supply risks and causing international oil prices to fall. NYMEX WTI crude oil futures (December contract) settled at $96.46/bbl, down $7.66/bbl (-7.36% WoW); ICE Brent crude oil futures (January contract, after roll) settled at $104.77/bbl, down $8.66/bbl (-7.63% WoW). China INE crude oil futures (contract 2612) rose by 17.6 yuan to 745.2 yuan/bbl during the day session but fell by 64.2 yuan to 681 yuan/bbl in the night session.

II. Price Table

Comparison of DBP and Upstream Product Prices

Unit: CNY/ton

Data Source: Chempricehub Information

Notes:

1. DBP, naphthalene-based phthalic anhydride, and n-butanol are all National Standard Premium Grade products.
2. The prices listed above are spot exchange rates inclusive of VAT, denominated in CNY per ton.
3. All RMB prices in the table above represent ex-factory spot exchange rates.
4. "Previous Period" and "Current Period" refer to point-in-time prices from the two preceding working weeks prior to this week, not weekly averages.
5. The change percentage represents the week-over-week rate of change.

III. Market Outlook

Yesterday, domestic DBP market prices fluctuated upwards. Market sentiment shifted towards a wait-and-see approach. It is reported that prices of raw materials, specifically phthalic anhydride and n-butanol, have continued to rise, further strengthening cost support for DBP prices. Downstream buyers are engaging in essential procurement only and trading cautiously. Market inquiries and transactions have centered on lower price ranges. DBP market prices are expected to fluctuate within a high range today.

IV. Data Calendar

Data Source: Chempricehub Information

Notes:

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