Prompt

I. Daily Summary

1. International crude oil prices declined during the Asian trading session, and market buying sentiment was subdued today.

2. Today, domestic 2-EH plant operating rates stood at 75%; downstream DOP plant operating rates were at 57%, and DOTP plant operating rates were at 60%.

3. Propylene feedstock prices fell, slightly easing cost pressures on 2-EH producers.

II. Spot Market Overview

Table 1: Domestic 2-EH and Key Downstream Product Price Summary (Unit: CNY/ton)

Today, ex-factory prices for 2-EH in Shandong ranged from 10,200 to 10,300 CNY/ton, while reference prices in the Jiangsu market ranged from 10,300 to 10,450 CNY/ton. The overall price center of the domestic 2-EH market edged higher within a narrow range, with sluggish spot transaction activity. Falling propylene feedstock prices and declining international crude oil prices during the Asian session led to strong wait-and-see sentiment among buyers, resulting in only small-volume transactions driven by rigid demand. Some plants raised their posted prices primarily due to significant cost pressures, keeping market prices firm.

III. Production Dynamics

Today, the capacity utilization rate for domestic 2-EH production was approximately 75%. Propylene prices in Shandong dropped to 11,750 CNY/ton. The contract posted price for Shandong 2-EH was 10,300 CNY/ton, indicating a loss of 218 CNY/ton for Shandong-based 2-EH producers.

IV. Price Forecast

Although propylene feedstock prices have declined, 2-EH production costs remain elevated. Downstream users are procuring raw materials based on actual needs, prioritizing the execution of next month's contracts. Some plants have set slightly higher posted prices; it is expected that low-end 2-EH market prices will catch up tomorrow.

V. Related Products

DOTP market prices in Shandong rose, with ex-warehouse prices referencing 11,200–11,300 CNY/ton, while local spot order prices were slightly higher. Cost support prompted DOTP traders to raise their quotes, but buyers remained cautious about following higher prices. New order transactions slowed down, and the market atmosphere became increasingly stagnant and wait-and-see oriented.

VI. Data Calendar

Table 2: Domestic 2-EH Data Overview (Units: 10,000 tons, CNY/ton)