SunSirs: With Increased Cost Support, DOP Prices Rose Initially and Then Fell Last Week

Last week, the price of plasticizer DOP first rose and then fell

According to the SunSirs commodity market analysis system, as of November 7th, the price of DOP was 7,025.83 RMB/ton, a slight increase of 0.24% compared to the price of 7,009.16 RMB/ton on November 1st. Last week, DOP production increased due to higher operating rates at DOP plants. Meanwhile, the price of raw material isooctanol fluctuated upwards, while phthalic anhydride prices weakened, leading to increased DOP costs. This reduced downward pressure on DOP costs and increased upward support. With increased cost support and supply, plasticizer prices initially rose and then fell last week.

Last week, the price of raw material isooctanol fluctuated upwards

According to the SunSirs commodity market analysis system, as of November 7th, the price of isooctanol was 6,033.33 RMB/ton, a 1.40% increase from the price of 5,950 RMB/ton on November 1st. Some companies underwent maintenance of their isooctanol equipment, leading to a significant decrease in the operating rate of isooctanol plants, with an operating rate of 70%, resulting in a decrease in isooctanol supply. The decline in propylene prices also lowered isooctanol costs. Last week, the decrease in isooctanol supply, coupled with lower costs, led to a fluctuating upward trend in isooctanol prices. Increased plasticizer costs reduced downward pressure on DOP (dimethyl phthalate) and increased upward support.

Last week, the price of raw material phthalic anhydride fluctuated and declined

According to the commodity market analysis system of SunSirs, as of November 7th, the price of OX based phthalic anhydride was 5,926.67 RMB/ton, a slight decrease of 0.39% compared to the price of 5,950 RMB/ton on November 1st. Phthalic anhydride continued its downward trend, with prices fluctuating slightly lower in November. The price of OX also fluctuated downwards, leading to lower costs. Phthalic anhydride producers maintained stable operating rates, resulting in ample supply. Downstream enterprises increased their equipment operating rates, maintaining demand support for phthalic anhydride. Lower costs and supported demand led to a fluctuating decline in phthalic anhydride prices last week. The decline in phthalic anhydride prices also reduced plasticizer costs, putting downward pressure on DOP (dimethyl phthalate) prices last week.

Market outlook

According to data analysts at SunSirs, regarding costs, isooctanol prices fluctuated upwards while phthalic anhydride prices fluctuated downwards, reducing downward pressure on DOP costs and increasing upward support. On the supply side, plasticizer manufacturers' operating rates increased slightly, leading to increased plasticizer production and supply. On the demand side, the overall economic downturn, coupled with anti-involution competition and the elimination of outdated production capacity, resulted in continued weak downstream demand. Looking ahead, with increased supply, weak demand, and rising costs, DOP prices are expected to stabilize weakly in the near future.

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