The price of plasticizer DOP stopped falling and rose in March

According to the Commodity Market Analysis System of Shengyi Society, as of March 28th, the DOP price was 8263.75 yuan/ton, a decrease of 0.75% compared to the DOP price of 8326.25 yuan/ton on March 1st. Plasticizer DOP enterprises are operating at a high level, with an increase in plasticizer production and sufficient supply of plasticizer DOP; The price of phthalic anhydride has risen sharply, while the price of isooctanol first fell and then rose. The cost of plasticizer DOP has also increased, and the support of plasticizer rise has increased. The downward pressure still exists.
The price of raw material isooctanol first fell and then rose in March
According to the Commodity Market Analysis System of Shengyi Society, as of March 28th, the price of isooctanol was 7600 yuan/ton, a decrease of 0.87% compared to the price of 7666.67 yuan/ton on March 1st. Newly added production capacity of isooctanol, high equipment start-up of isooctanol enterprises, and sufficient supply from isooctanol manufacturers; Plasticizer manufacturers are operating at a high level, leading to an increase in demand for isooctanol and a double increase in supply and demand. In addition, the decline in isooctanol profits has resulted in a rebound in the price of isooctanol. The downward pressure on isooctanol has weakened, and upward support still exists.
The price of raw material phthalic anhydride fluctuated and rose in March
According to the Commodity Market Analysis System of Shengyi Society, as of March 28th, the price of phthalic anhydride in neighboring countries was 7512.50 yuan/ton, a fluctuating increase of 5.25% compared to the price of 7137.50 yuan/ton on March 1st. The maintenance of the phthalic anhydride plant has been advanced, resulting in a reduction in the supply of phthalic anhydride. Several phthalic anhydride manufacturers have stopped for maintenance, leading to a decrease in equipment operating load and low inventory levels; Industrial naphthalene prices have risen, with increased support from neighboring benzene prices and strong adjustments in raw material costs. The decrease in supply provides cost support, while the increase in phthalic anhydride prices increases support. The cost of raw materials for plasticizers has increased.
Downstream demand for plasticizers remains weak
The domestic PVC industry is highly dependent on traditional sectors such as real estate and infrastructure. Since 2022, the slowdown in real estate activities has directly led to a decline in demand for PVC pipes, profiles, and other major consumer sectors. In addition, the continued escalation of the US policy of imposing tariffs on China, coupled with the 20% tariff game between buyers and sellers, has resulted in weak growth in new orders in downstream markets, and weak downstream demand for plasticizers.
Future expectations
According to the data analyst of Shengyi Society’s plasticizer products, in terms of cost, the price of isooctanol first fell and then rose, the price of phthalic anhydride rose sharply, and the cost of plasticizer DOP increased; In terms of demand, downstream production is slowly recovering, and demand for plasticizers remains weak; In terms of supply, DOP enterprises have high operating loads and sufficient DOP supply. In the future, with rising costs and sufficient supply, coupled with weak demand for plasticizers, it is expected that the price of plasticizer DOP will remain strong and consolidate.