The price of plasticizer DOP fluctuated sharply and fell in October 

According to the commodity market analysis system of SunSirs, as of October 31, the price of DOP was 7,009.16 RMB/ton, a significant drop from the price of 7,367.50 RMB/ton on October 1, reaching a new low since October 2020; the price of DOP had fallen for four consecutive months, with a drop of 4.86% in October, the largest monthly drop this year.

According to the commodity market analysis system of SunSirs, in October, the operating rate of DOP (diethyltoluene) enterprises was less than 60%, resulting in a decrease in DOP production and supply. The prices of raw materials, isooctanol and phthalic anhydride, fell sharply, further reducing DOP costs and increasing downward pressure on DOP prices. Downstream demand remained weak, leading to sluggish DOP transactions. The combination of lower costs and weak supply and demand caused plasticizer prices to fluctuate and decline in October.

The price of raw material isooctanol fluctuated and fell 

According to the commodity market analysis system of SunSirs, as of October 31, the price of isooctanol was 5,950 RMB/ton, a decline from 6,666.67 RMB/ton on October 1, marking the lowest price since May 2020. Isooctanol prices had fallen for four consecutive months, with a 10.75% drop in October, the largest decline this year. The decline in isooctanol prices had reduced plasticizer costs, increasing downward pressure on DOP (diethyltoluene sulfate).

The price of raw material phthalic anhydride fluctuated and declined

According to the commodity market analysis system of SunSirs, as of October 31, the price of OX-process phthalic anhydride was 5,950 RMB/ton, a decline from 6,293.33 RMB/ton on October 1, marking a new low for phthalic anhydride prices since March 2021. Phthalic anhydride prices had fallen for seven consecutive months, with a sharp drop of 5.46% in October, the largest monthly decline this year. The significant drop in phthalic anhydride prices had reduced plasticizer costs, increasing downward pressure on plasticizer DOP prices.

Future Outlook

According to data analysts at SunSirs, regarding costs, the prices of raw materials isooctanol and phthalic anhydride had fallen sharply, both reaching new lows in recent years, significantly reducing the cost of DOP plasticizer and increasing downward pressure on its price. On the supply side, the operating rate of plasticizer companies slightly rebounded in late October, leading to increased supply in the future. Furthermore, DOP prices were at historically low levels, resulting in low downward pressure and a low willingness to lower prices. On the demand side, the traditional peak season of September and October was lackluster, with downstream demand remaining weak. In summary, the downside potential for DOP plasticizer was limited, and upward support was weak; therefore, DOP prices are expected to consolidate at low levels in the near future.

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