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DOP: After The Rise, The High Level Falls Back

- Oct 31, 2018 -


                             DOP: After the rise, the high level falls back



DOP Market Review:

        In October, after the rise of the DOP market, the high turnover was blocked, and the pressure was reversed. After the small holiday, under the favorable boost and some speculation factors, the raw materials were continuously raised, the DOP cost support was strengthened, and the import supply was less, and the factory itself The inventory pressure is not large, the speculative increase action is increased, the limited amount and the closing phenomenon are accompanied, and the actual negotiation focus is actively moved up. However, as the price rushed to the 10,000-yuan mark, the downstream resistance increased, and the raw material trend weakened, and the downstream demand did not substantially improve. The participation in the market was limited, and the actual business focus was lower. The demand for terminals is difficult to improve, and the resistance of DOP shipments is still high, allowing the profit to continue the trend, but the factory losses continue, and the decline is controlled.



Raw material 1-octyl alcohol market review:

     In October, domestic octanol surged sharply, and it slowly fell back in the middle and late. During the month, crude oil futures fell back, and plastics futures led by PP also showed a strong trend. In terms of octanol, the supply and demand support during the month was strong, and with the drastic changes in cost, the fluctuation of octanol increased. In the first half of the year, commodity futures rose sharply, driving propylene higher, and octyl alcohol speculation warmed up, superimposed on Anqing Shuguang and Jianlan octanol equipment maintenance, the market quickly rose. After the middle and late period, propylene was retraced sharply. Although the supply of octanol was reduced, the excessive profitability led to a gradual increase in the bearish atmosphere, and the octanol market was sharply lightened. In addition, the octanol profit margin was greatly reduced. Next, the market continues to decline. At this time, Jianlan, Lihuayi and Dongming Dongfang octanol units have been parked, and the strong basic support for price increases, the decline in octanol is relatively slow, and the price difference of butyl octanol continues to expand. As of October 31, the closing price of East China Octanol Market reached 9600-9650 yuan / ton, up 50 yuan / ton from the closing price at the end of last month. The average price of Huadong octanol market was 9,819 yuan/ton, and the average price rose by 4.81% month-on-month and 14.86% year-on-year.



Raw material Phthalic anhydride market review:

    In October, the phthalic anhydride market showed a trend of rising first and then falling. The overall price range was up from last month. At the close, the market price of phthalic anhydride in East China closed at 7,850 yuan/ton, up 300 yuan/ton from the end of last month. The increase was 3.97%; the market price of naphthalene phthalic anhydride in North China closed at 7,350 yuan / ton, up 300 yuan / ton from the end of last month, an increase of 4.26%. After the National Day holiday, the phthalic anhydride part is still executing orders, some of the devices are not restored, the overall supply pressure is not large, and the downstream plasticizers are actively rising, and the prices of raw materials such as phthalic acid and industrial naphthalene are rising, and the buying interest is rising. The inquiry and procurement atmosphere is improving, and the push-up action is increasing. However, from the middle of the year, the downstream resistance to high phthalic anhydride has gradually increased, and the single follow-up is limited. As the weather turns cold, the demand for phthalic anhydride has shrunk. The bearish sentiment has spread, the actual purchasing action is lacking, and the focus of negotiation is constantly loose. The price has increased. However, the raw material benzene is still at a high level, subject to loss pressure, and the decline is slow. The competition situation of o-naphthalene still exists, the low price has increased, and phthalic anhydride continues to bottom out.



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