1. Key Highlights

1. The US and Iran have stated that negotiations are ongoing, easing market concerns; however, hurricanes continue to suppress US crude oil production, driving international prices higher. NYMEX WTI November futures closed at $91.85/bbl, up $0.36 (+0.39%); ICE Brent December futures closed at $104.72/bbl, up $0.44 (+0.42%). China INE Crude Oil Futures (contract 2611) rose by 3.9 yuan to 741.3 yuan/barrel during the day session and fell by 1.5 yuan to 739.8 yuan/barrel in the night session.

2. As of October 9, Japanese naphtha closed at $971.5/tonne, down $0.64 from the previous trading day. Singapore naphtha closed at $102.43/barrel, up $0.09 from the previous trading day.

3. Last week, domestic pyrolysis C5 prices from major enterprises remained stable. Shandong mixed C5 prices declined slightly with moderate sales volumes. Today, private enterprise pyrolysis C5 prices remain acceptable, with little difference compared to major enterprises. In downstream processing, pentadiene monomer inventories are low, keeping prices firm. Resin prices are currently stable, but buying interest is average.

4. Over the weekend, the pyrolysis C5 residual liquid market maintained stable prices for contract execution. The gasoline market weakened with poor trading sentiment. Prices for homogeneous products like mixed C5 softened. Market sentiment remains bearish; it is expected that the pyrolysis C5 residual liquid market will remain stable while participants wait and see.

5. Piperylene prices rose last week. Tight raw material supply constrained operating rates, which remained low, limiting overall market supply. Most factories hold long-term contracts and pending orders, maintaining a bullish stance on pricing and reluctance to sell. Downstream prices were generally stable, creating resistance to passing cost increases forward. However, resin industry operating rates remained normal, continuously consuming raw materials. In the curing agent sector, some units that had previously undergone short shutdowns restarted, leading to rigid demand restocking and pushing transaction centers upward. Mainstream ex-factory prices ranged from 9,200 to 10,300 yuan/tonne.

6. Isoprene prices rose last week. Supply tightness continued, with most factories locking resources into long-term contracts and pending orders, supporting bullish pricing and reluctance to sell. The main downstream product, SIS, lacked momentum to push prices higher, but operating rates remained steady. Combined with the restart of some temporarily shut-down units, this provided support through rigid consumption of isoprene. Mainstream offer prices in the East China market ranged from 14,000 to 14,600 yuan/tonne.

7. Dicyclopentadiene (DCPD) price centers shifted upward last week, ranging between 9,100 and 9,600 yuan/tonne. Low-end prices stabilized among regular customers, while high-end spot prices saw occasional auctions at slightly higher levels. Crude oil and bulk commodity markets remained strong. Rigid demand recovered slightly as post-holiday activities resumed. Firm raw material costs and limited DCPD supply continued to support market conditions.

8. Mainstream prices for road marking paint C5 petroleum resin ranged from 9,750 to 11,000 yuan/tonne last week. Downstream buyers mostly maintained rigid demand procurement due to relatively high resin prices. Manufacturers faced significant cost pressure, and non-deep-processing directions continued to incur losses, leading to sporadic attempts to raise prices.

9. Mainstream prices for piperylene adhesive C5 petroleum resin ranged from 11,800 to 13,600 yuan/tonne last week, while de-cyclized adhesive C5 petroleum resin ranged from 10,500 to 11,200 yuan/tonne. High prices may amplify certain downstream risks. Demand was primarily driven by rigid needs. Overall, manufacturers' shipments were smooth, spot inventory was low, and prices remained high with sporadic upward adjustments.

Core Logic: Pyrolysis C5 rose, Isoprene rose, Piperylene rose, Dicyclopentadiene rose, and C5 petroleum resins remained stable with slight upward trends.

2. Price Table

Table 1: Summary of Domestic Pyrolysis C5 Industry Chain (Unit: Yuan/Tonne)

3. Market Outlook

Domestic pyrolysis C5 prices from major enterprises are expected to remain stable, while prices from private enterprises may warm up slightly, with some approaching parity with major players. Mixed C5 prices are considered acceptable. Regarding downstream processing, pentadiene monomer prices are expected to remain firm, while purchasing enthusiasm for resins is average.

The pyrolysis C5 residual liquid market is expected to fluctuate within a narrow range. Post-holiday gasoline market demand has weakened, and trading sentiment in the Shandong mixed C5 market is mediocre. With no clear market guidance, Chempricehub expects the pyrolysis C5 residual liquid market to experience narrow fluctuations in the near term.

Crude oil prices dipped during intraday trading, but the impact on the market was limited. Weekend gasoline prices at Shandong local refineries declined, resulting in poor trading sentiment. Under these bearish terminal conditions, Chempricehub expects the mixed C5 market to trend weakly with oscillations today.

Isoprene prices are expected to consolidate at high levels. The overall tight supply pattern for isoprene continues, with factories facing no inventory pressure. However, key downstream buyers lack the momentum to chase higher prices, so prices are expected to stabilize at elevated levels.

Piperylene prices are expected to consolidate at high levels. Factories currently face no inventory pressure, providing support for holding prices. However, downstream rigid demand is limited, and many participants are cautiously waiting. Therefore, piperylene prices are expected to maintain a high-level consolidation trend.

Dicyclopentadiene (DCPD) price centers are expected to continue shifting upward. Crude oil remains at high levels, and DCPD supply remains limited. With export orders being executed, spot availability is tight, keeping the market running at high levels.

For road marking paint C5 petroleum resin, construction volume in northern regions may decrease slightly. In the short term, scarce manufacturer spot inventory and persistent cost pressure will lead to stagnant trading, with negotiated prices remaining stable at high levels. For adhesive C5 petroleum resin, supply is gradually recovering, and transaction volumes remain high. Meanwhile, international crude oil prices are consolidating at high levels, providing strong cost-side support, keeping negotiated prices firm.

4. Data Calendar

Table 2: Overview of Domestic Pyrolysis C5 Industry Chain Data (Unit: 10,000 Tonnes)