Plasticizer DOP prices fluctuated and fell

According to the SunSirs Commodity Market Analysis System, as of October 20th, the price of DOP was 7209.17 RMB/ton, a 2.15% decrease from the price of 7367.50 RMB/ton on October 1st and a 1.37% decrease from the price of 7309.16 RMB/ton on October 13th. Last week's DOP price saw a volatile decline. DOP plants were operating at less than 60% capacity, resulting in a decline in production and supply. Raw material isooctanol prices fluctuated, while phthalic anhydride prices weakened, reducing DOP costs and increasing downward pressure on DOP prices. Downstream demand is unlikely to improve, leading to weak DOP transaction volume. Declining costs and weak supply and demand led to a volatile decline in plasticizer prices last week.

The price of raw material isooctanol fluctuated and fell

According to the SunSirs commodity market analysis system, as of October 20th, the price of isooctanol was 6,283.33 RMB/ton, a 4.07% decrease from the previous Monday, October 13th, when the price was 6,550 RMB/ton. It also saw a 5.75% decrease from October 1st, when the price was 6,666.67 RMB/ton. Due to maintenance at some companies' isooctanol equipment, the operating rates of these plants decreased slightly, reducing the supply of isooctanol. Furthermore, falling propylene prices had also lowered the cost of isooctanol. Last week, the supply of isooctanol had decreased, coupled with lower costs, leading to a volatile decline in the price of isooctanol. Plasticizer costs had also fluctuated, increasing downward pressure on DOP prices.

The price of raw material phthalic anhydride fluctuated and fell

According to the SunSirs Commodity Market Analysis System, as of October 20th, the price of OX based phthalic anhydride was 6,050 RMB/ton, a 3.87% decrease from the price of 6,293.33 RMB/ton on October 1st, and a 2.68% decrease from the previous Monday, October 13th price of 6,216.67 RMB/ton. Last week, OX prices fell, and industrial naphthalene prices fluctuated downward. This reduced cost support for phthalic anhydride and reduced equipment utilization at downstream enterprises weakened demand for phthalic anhydride. This weakening demand support led to a volatile decline in phthalic anhydride prices. Declining plasticizer costs also increased downward pressure on DOP prices last week.

Market outlook

Analysts at SunSirs believe that, on the cost side, fluctuating prices for isooctanol and phthalic anhydride were driving downward pressure on DOP plasticizer costs. On the supply side, the operating rates of plasticizer companies had declined slightly, leading to reduced production and supply. On the demand side, the overall economic downturn, coupled with anti-involution competition and the elimination of outdated production capacity, had weakened downstream demand. In the future market, due to the weak supply and demand and the decline in costs, the price of plasticizer DOP is expected to fluctuate and fall.

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