According to the data monitoring of SunSirs, the DOP market fluctuated and fell in March, and the industrial chain support was absent, and the DOP price fluctuated and fell. As of March 17, the DOP price was 12,700.00 RMB/ton, which was a sharp drop of 7.97% from the price of 13,800.00 RMB/ton on March 1. The industry chain was no longer supported, and the DOP market plummeted.
2-EH market trend stabilized
It can be seen from the 2-EH price chart that the price of 2-EH fluctuated and fell in March, the cost of DOP raw materials fell, DOP lost its rising support, and DOP prices fell precipitously. In the first ten days of March, the price of 2-EH fluctuated slightly, and the downward pressure of DOP was limited. After that, the price of 2-EH fell sharply, and the cost of DOP dropped sharply, and the downward pressure increased. The overall outlook for DOP's upward momentum weakened and downward pressure increased.
PA market trend stabilized
From the PA chart, it can be seen that the price of PA continued to fall in March, the cost of DOP's raw material PA continued to fall, and the cost of DOP decreased, and the downward pressure on DOP in the market outlook increased.
The downstream market of the industrial chain
It can be seen from the PVC price chart that in March, the price of PVC first fell and then rose. Affected by the fall in DOP prices, the price of PVC fell slightly. As the demand for PVC picked up, the price of PVC rose, and the price of PVC fluctuated up. Downstream market picked up, which would be positive for DOP market, and DOP still had upward momentum.
According to DOP data analysts of SunSirs, DOP prices set a new cycle high on February 25, 2021 (cycle refers to 2011-09-01 to present), which is mainly supported by the continuous increase in raw material prices. Later, as the price of raw materials fell, the cost of DOP fell, and the price of DOP fluctuated downward. Before March 10th, due to the high cost of 2-EH, DOP cost was high and profit was low, and the room for DOP to fall was limited. Later, as the price of 2-EH fell sharply, the cost of DOP decreased, and the room for DOP to fall increased, and the price of DOP plummeted. Although the downstream PVC market recovered, DOP demand rose, and DOP prices rebounded slightly, the upward momentum brought by the increase in demand was not enough to support the continuous rise of DOP. And with the increase in the operating rate of DOP enterprises, the pressure on supply and demand eased, demand support weakened, and the upward momentum of DOP weakened and the downward pressure increased. In general, DOP costs fell, enterprise operating rates increased, DOP rising support weakened, and excessively high prices caused excessive pressure on downstream product costs. Downstream customers were more resistant to high-priced DOP. At this stage, the operating rate of DOP companies is low, and the recovery of the PVC market will increase the operating rate of DOP companies, which has limited motivation for the rise of the DOP market. The market outlook for DOP is expected to fluctuate to fall slightly.
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