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The Domestic Market for DOP Saw a Weak Decline on June 24
On June 24, the DOP market in the Jiangsu region saw a weak decline, with quotes at 8,600 RMB/ton. The DOP market in the Shandong region also experienced a weak decline, quoted at 8,400 RMB/ton, while the market in the Zhejiang region saw a weak decline with quotes at 8,800 RMB/ton.
Market analysis
On June 24, the market to phthalic anhydride—a raw material to DOP—saw a weak decline, while 2-ethylhexanol prices fluctuated downward. With the cost of DOP raw materials falling and production rates at DOP vegetation rising, downstream market conditions stabilized; demand was driven primarily by essential needs, and purchasing interest among downstream customers increased. Transaction prices were determined through negotiation, with quotes ranging from 8,300 to 8,700 yuan per tonne. Both quoted and actual transaction prices fell as bearish factors intensified and bullish support weakened, resulting in a downward direction to the DOP market.
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