This week, the price of plasticizer DOP stopped rising and fell
According to the Commodity Market Analysis System of Shengyi Society, as of April 10th, the DOP price was 10275.83 yuan/ton, which first increased and then decreased by 0.16% compared to the DOP price of 10259.17 yuan/ton on April 1st; Compared to the DOP price of 10375.83 yuan/ton on April 8th, it has decreased by 0.96%. The impact of the Middle East geopolitical crisis has led to a sharp rise in crude oil prices, which are rapidly transmitted downstream along the industry chain. The prices of isooctanol and phthalic anhydride have risen sharply, the cost of DOP has increased, and the price of plasticizer DOP has risen significantly; The US Iran ceasefire agreement lasted for two weeks, causing a decline in crude oil prices and downstream product prices. The prices of octanol and phthalic anhydride also fell, and the cost of DOP decreased, resulting in a decrease in DOP prices.
The crude oil market is transmitted downstream
On April 8th, as the deadline set by the Trump administration expired, the United States and Iran announced a two-week ceasefire agreement mediated by Pakistan. According to the agreement, the ceasefire will take immediate effect, and Iran has agreed to temporarily open the Strait of Hormuz to ensure global shipping safety. The delegations of the United States and Iran will hold negotiations in Islamabad, the capital of Pakistan, on April 10th. This news has caused severe fluctuations in the global commodity market, with crude oil prices experiencing a sharp decline. However, due to damage to energy facilities in the Middle East and slow supply chain repairs, oil prices are unlikely to return to pre conflict levels. Crude oil is the source of the chemical industry chain, and the decline in oil prices is transmitted downstream, resulting in a decrease in the prices of isooctanol and phthalic anhydride.
The price of raw material isooctanol has stopped rising and fallen
According to the Commodity Market Analysis System of Shengyi Society, as of April 10th, the price of isooctanol was 9200 yuan/ton, which first increased and then decreased by 0.72% compared to the price of 9266.67 yuan/ton on April 1st; Compared to April 7th, the price of isooctanol decreased by 3.50% to 9533.33 yuan/ton. The ceasefire agreement between the United States and Iran has been reached, and the decline in crude oil prices has been transmitted downstream, resulting in a decrease in propylene prices and a decrease in costs. The price of isooctanol has also dropped.
Phthalic anhydride market stops rising and falls
According to the Commodity Market Analysis System of Shengyi Society, as of April 10th, the price of phthalic anhydride in neighboring countries was 9333.33 yuan/ton, a fluctuating decrease of 0.89% compared to the price of 9416.67 yuan/ton on April 1st. The sharp drop in crude oil prices due to the ceasefire between the United States and Iran has been transmitted downstream, increasing the downward pressure on phthalic anhydride. However, there are many shutdowns and maintenance of raw material benzene enterprises. In April, Yangzi Petrochemical’s benzene equipment was under maintenance, and in May, Jinling Petrochemical had a maintenance plan for its benzene equipment. The supply of benzene has been severely reduced, and there is insufficient room for the price of benzene to fall. The support of rising phthalic anhydride costs still exists, and the pressure of falling phthalic anhydride prices is insufficient. The support of plasticizer costs still exists.
Future expectations
According to the data analyst of Shengyi Society’s plasticizer products, in terms of cost, the decline in crude oil prices has led to a decrease in isooctanol prices and a decrease in the cost of plasticizer DOP. In the future, it is difficult for crude oil prices to return to their pre conflict low levels, which will be transmitted downstream. The downward space for isooctanol prices is limited, and the support of phthalic anhydride rising still exists. The cost of plasticizer DOP raw materials has limited decline, and the downward pressure on plasticizer DOP is relatively small. It is expected that the price of plasticizer DOP will weakly consolidate in the future.

Isooctanol market trend
According to the Commodity Market Analysis System of Shengyi Society, the price of isooctanol increased by 42.5% from about 6700 yuan/ton in early March to 9500 yuan/ton on April 8th, showing a unilateral upward trend overall. But since mid March, the price of isooctanol has first fallen and then risen, and the overall price has fluctuated and consolidated. Affected by the rising cost of raw materials, the price of isooctanol increased significantly in early March, and the market for isooctanol on the supply and demand sides was deadlocked, with limited support for the rise of isooctanol on the supply and demand sides.
US Iran ceasefire for two weeks
At the expiration of the deadline set by the Trump administration, the United States and Iran announced a two-week ceasefire agreement mediated by Pakistan. According to the agreement, the ceasefire will take immediate effect, and Iran has agreed to temporarily open the Strait of Hormuz to ensure global shipping safety. The delegations of the United States and Iran will hold negotiations in Islamabad, the capital of Pakistan, on April 10th. This news triggered severe fluctuations in the global commodity market, with crude oil prices plummeting. However, due to damage to energy facilities in the Middle East and slow supply chain repairs, oil prices are unlikely to return to pre conflict levels. Crude oil is the source of the chemical industry chain, and the decline in oil prices directly reduces production costs. The cost has decreased, and the pressure to lower the price of isooctanol has increased.
The supply and demand situation of isooctanol is deadlocked
Isooctanol enterprises are operating at a high level, and the operating load of their facilities remains above 90%, indicating sufficient supply of isooctanol. Downstream procurement is mainly based on essential needs. If the PVC industry’s operating rate declines or export orders decrease in the future, the upward momentum of DOP prices may weaken. Overall, the supply and demand situation of isooctanol is deadlocked.
Spot Market Forecast
According to the Commodity Market Analysis System of Shengyi Society, the price of isooctanol has been above the 20 day moving average, 30 day moving average, and 60 day moving average since the spot moving average crossed other price moving averages in early March, indicating an upward trend; Starting from mid March, the spot moving average and 10 day moving average of isooctanol intertwine, indicating a volatile trend in the isooctanol market.
On April 7th, the price of isooctanol was at a high level in all cycles, and in the past 20 days, the price of isooctanol has been at a high level in cycles (30 day, 60 day, 90 day, and one-year levels), and has been on a warning of over inflation within a year. The price has risen too quickly in the short term and deviated from the moving average, increasing the risk of price decline and limiting the upward space. In the past 20 days, the price moving average of isooctanol has repeatedly crossed the 10 day moving average, indicating a strong willingness for the isooctanol market price to decline. The isooctanol market is deadlocked, but the risk of decline is accumulating.
comprehensive analysis
The data analyst of Business Society’s octanol product believes that the supply and demand situation of isooctanol is deadlocked, and there is no significant upward support for isooctanol. From the trend of isooctanol price moving averages and price range warnings, it can be seen that the risk of isooctanol price decline has increased. In terms of cost, due to the impact of the ceasefire between the United States and Iran, crude oil prices have plummeted, and the expected cost of isooctanol has decreased, increasing the downward pressure on isooctanol. Overall, with cost reduction and supply-demand stalemate, it is expected that the price of isooctanol will fluctuate and fall in the future market.

According to the monitoring of the commodity market analysis system of Shengyi Society, the price of lithium carbonate has fluctuated sharply recently. As of April 1st, the benchmark price of battery grade lithium carbonate in Shengyi Society was 158000 yuan/ton, a month on month decrease of 8.67% and a year-on-year increase of 113.61%.

This round of market trend is no longer simply driven by supply and demand, but the result of multiple disturbances and repeated fermentation on the supply side, as well as the amplification of emotions in a low inventory environment.
Supply side: Two major sources of disturbance repeatedly ferment
（1） Zimbabwe: Export ban ‘pending’
On February 25, 2026, Zimbabwe suddenly announced an indefinite suspension of lithium ore and lithium concentrate exports, covering goods in transit.
Affected by this news, the price of lithium carbonate jumped from 140000/ton to 170000/ton. Recently, there have been talks between Chinese funded enterprises and the government, but the details have not been implemented yet. The market oscillates between “relaxation of bans” and “long-term tightening”, and every rumor triggers a huge price shock.
（2） Australia: ‘Oil Shortage Storm’
Affected by the situation in the Middle East, there is a shortage of diesel in some mines in Australia, and there are reports of “load reduction and compression operations”. Lithium carbonate saw a daily increase of 8000 yuan/ton. Although it was later clarified that Australian diesel is mainly used in the transportation sector, and mining electricity mainly relies on natural gas, so it has not yet affected lithium mining production, the continent’s lithium mines are facing problems such as declining grade, slowing expansion, and reduced production of high cost mines during low price periods, resulting in a significant decrease in supply elasticity. Any marginal disturbance is easily amplified as a ‘risk of supply interruption’.
Bottom level environment: low inventory+demand resilience, amplifying the power of supply disruptions
At the end of March, inventory shifted from destocking to accumulation, but the magnitude was small and still at a low level. The overall social inventory is low, and once the supply tightens and expectations rise, it is highly likely to trigger “grabbing” and price surges. There is no obvious collapse on the demand side, and geopolitical factors have led to an increase in oil prices. The economy of energy storage is prominent, and the market momentum is strong.
Business Society’s lithium carbonate data analyst believes that the uncertainty of resuming production in Zimbabwe, Australia, and the suspended Ningde Jianxiawo will exist for a long time. Every policy change and logistics obstruction may trigger a new round of ups and downs, and lithium carbonate prices may fluctuate. Specific changes in supply and demand still need to be monitored.

1、 Price trend

According to the Commodity Market Analysis System of Shengyi Society, the price of pure benzene in the Shandong region has fluctuated and fallen this month. On March 1st, the price was 6160 yuan/ton; On March 31st, the price was 8586.67 yuan/ton, an increase of 39.39% from the beginning of the month. Affected by the Middle East conflict and shipping in the Strait of Hormuz, the highest price of pure benzene this month was 12002.33 yuan/ton on March 9th.
2、 Market analysis
Pure benzene: Today, the domestic market price of pure benzene continues to rise. International crude oil futures have risen, and the price of pure benzene has increased in foreign markets. Domestic contract holders are actively replenishing and delivering at the end of the month, leading to an increase in market trading volume. Recently, Shandong Pure Benzene Refinery has been selling in large quantities, resulting in a price increase. The price of pure benzene in Sinopec’s refineries in East and South China has remained stable at 9000 yuan/ton, and will be implemented on March 30th. It is expected that the pure benzene market will experience slight fluctuations in the short term.
This month, Sinopec has raised the price of pure benzene by 2700 yuan/ton to 9000 yuan/ton.
Downstream aspects
3、 Future forecast
Crude oil futures: On March 30th, international crude oil futures continued to rise. The settlement price of the May WTI crude oil futures contract in the United States was $102.88 per barrel, an increase of $3.24 or 3.3%. The settlement price of Brent crude oil futures in June was $107.39 per barrel, an increase of $2.07 or 2.0%.
Foreign pure benzene: On March 30th, foreign pure benzene: FOB Korea rose 30 to $1148/ton, CFR China rose 30 to $1157/ton. FOB Rotterdam rose by 34 to $1200 per ton, while FOB USG remained stable at 413 cents per gallon.
Overall forecast: Due to the impact of the Middle East conflict and shipping in the Strait of Hormuz, the pure benzene market is expected to have a strong overall sentiment in the short term. We still need to wait and see more news on the cost and demand sides. Continue to monitor the trends of crude oil and external markets, as well as the impact of changes in pure benzene and downstream equipment dynamics and demand on the price of pure benzene.

1、 Price trend
According to the Commodity Market Analysis System of Shengyi Society, as of March 30th, the average quotation price of domestic high-quality DMF enterprises was 5500 yuan/ton. The DMF market price has recently risen narrowly, and currently the DMF market is operating in a narrow and strong direction.
2、 Cause analysis
In terms of the market, the upstream methanol market is currently experiencing strong price fluctuations, with limited room for price increases and limited support for DMF costs. Dimethylamine supply is concentrated, mainly produced by large enterprises with high industry concentration and relatively stable prices. The DMF market supply is stable.
Demand side: Currently, the downstream demand for DMF in the market is average, with a decreasing proportion but still the main force. It used to occupy half of DMF consumption for a long time, with a proportion of up to 59% in 2021 and dropping to around 42% in 2025. Pharmaceutical and pesticide intermediates have rigid demand and are steadily growing. As an important solvent for organic reactions, DMF is irreplaceable in the synthesis of antibiotics, anti-tumor drugs, and pesticides. By 2025, the proportion of consumption in this field will increase to 28%, and the demand for high-purity (pharmaceutical grade) products will continue to rise. The process of domestic substitution will accelerate, and electronic chemicals will be the largest growth engine, with an average annual growth rate of 18.5%
3、 Future forecast
DMF analysts from Shengyi Society believe that the DMF market is mainly operating in a strong direction with limited upward potential, and the overall market supply and demand are balanced.

The price of plasticizer DOP increased significantly in March

According to the Commodity Market Analysis System of Shengyi Society, as of March 9th, the DOP price was 9375.83 yuan/ton, a significant increase of 21.75% compared to the DOP price of 7700.84 yuan/ton on March 1st. The operating load of plasticizer DOP enterprises has increased, with the operating rate rising to around 65% and DOP production increasing; The escalating geopolitical crisis in the Middle East has led to a significant increase in crude oil prices, which have rapidly spread downstream along the industry chain. The prices of isooctanol and phthalic anhydride have also risen sharply, as have raw material prices, DOP costs, and plasticizer DOP prices.
The price of raw material isooctanol has significantly increased
According to the Commodity Market Analysis System of Shengyi Society, as of March 9th, the price of isooctanol was 9050 yuan/ton, a significant increase of 35.75% compared to the price of 6666.67 yuan/ton on March 1st. Isooctanol enterprises are operating at a high level, and the operating load of their facilities is maintained at around 9.5%, indicating sufficient supply of isooctanol. The escalating geopolitical crisis in the Middle East has led to a surge in crude oil prices that has been transmitted downstream, resulting in a significant increase in isooctanol prices, rising costs of plasticizers, and increased support for DOP increases.
The phthalic anhydride market has seen a significant increase
According to the Commodity Market Analysis System of Shengyi Society, as of March 9th, the price of phthalic anhydride in neighboring countries was 7466.67 yuan/ton, a significant increase of 21.41% compared to the price of 6150 yuan/ton on March 1st. Affected by the intensified geopolitical crisis in the Middle East, crude oil prices have surged, transmitted downstream, and the price of raw material ortho benzene has skyrocketed to 10700 yuan/ton, resulting in a significant increase in the cost of phthalic anhydride. The price of phthalic anhydride has surged, the cost of plasticizers has increased, and the support for the rise in plasticizers has increased.
Future expectations
According to the data analyst of Shengyi Society’s plasticizer products, the intensification of the Middle East geopolitical crisis has led to a surge in crude oil prices, which has been transmitted downstream. The prices of isooctanol and phthalic anhydride have also surged, resulting in an increase in the cost of plasticizer DOP. In the future, with the ongoing crisis in the Middle East, high crude oil prices, rising downstream costs, and an increase in supply and demand, it is expected that the price of plasticizer DOP will rise significantly in the future.

According to the Commodity Analysis System of Shengyi Society, the styrene market has continued to rise this week. The average price at the beginning of the week was 7890 yuan/ton, and the average price over the weekend was 8910 yuan/ton, with a 12.93% increase during the week.

Macro: On March 5th, international crude oil futures rose. The settlement price of the April WTI crude oil futures contract in the United States was $81.01 per barrel, an increase of $6.35 or 8.5%. The settlement price of Brent crude oil futures for May was $85.41 per barrel, an increase of $4.01 or 4.9%. The escalation of the Middle East conflict has led to supply and transportation disruptions, forcing major producers to reduce production.
On the cost side: Due to the impact of the Middle East war on oil and gas production and supply, international oil prices continue to soar sharply, and the listing prices of pure benzene main refineries have been raised multiple times. Holders of goods are reluctant to sell at low prices, and in the short term, pure benzene may continue to follow the rise of crude oil prices.
Supply and demand side: There will be a lot of maintenance for styrene in March, and it is expected that the supply will shrink. The downstream has basically resumed work, and under high costs, the demand increment is limited.
Styrene external market: On March 5th, the closing price of styrene market in Asia increased by $70/ton, with a closing price of $1115-1125/ton FOB Korea and $1115-1125/ton CFR China.
Market forecast: In the short term, with high raw material prices and supply contraction, it is expected that the styrene market will further rise.

The price of plasticizer DOP has significantly increased

According to the Commodity Market Analysis System of Shengyi Society, as of March 2nd, the DOP price was 7800.84 yuan/ton, a fluctuating increase of 1.30% compared to the DOP price of 7700.84 yuan/ton on March 1st. The operating load of plasticizer DOP enterprises has decreased, with an operating rate of about 57-60% and a decrease in DOP production; Due to the geopolitical impact in the Middle East, the prices of isooctanol and phthalic anhydride rebounded and rose on March 2nd, while raw material prices increased and DOP costs rose. The price of plasticizer DOP fluctuated and increased.
Raw material isooctanol prices rebound and rise
According to the Commodity Market Analysis System of Shengyi Society, as of March 2nd, the price of isooctanol was 6833.33 yuan/ton, which rebounded and increased by 2.50% compared to the price of 6666.67 yuan/ton on March 1st. Isooctanol enterprises are operating at a high level, and the operating load of their facilities is maintained at around 9.5%, indicating sufficient supply of isooctanol. Due to the geopolitical impact in the Middle East, the price of isooctanol rebounded and rose on March 2nd, causing an increase in the cost of plasticizers and increasing support for DOP.
Phthalic anhydride market rebounds and rises
According to the Commodity Market Analysis System of Shengyi Society, as of March 2nd, the price of phthalic anhydride in neighboring countries was 6383.33 yuan/ton, which rebounded and increased by 3.79% compared to the price of 6150 yuan/ton on March 1st; Compared to February 1st, the price of phthalic anhydride fluctuated and rose by 2.24% to 6243.33 yuan/ton. Affected by geopolitical factors in the Middle East, crude oil prices have surged, raw material prices of ortho benzene have increased, and the cost of phthalic anhydride has risen. The price of phthalic anhydride has rebounded and risen, and the cost of plasticizers has increased. The support for the rise in plasticizers has increased.
Future expectations
According to the data analyst of Shengyi Society’s plasticizer products, due to the influence of Middle Eastern geopolitical factors, the price of isooctanol has significantly increased, the price of phthalic anhydride has rebounded and risen, and the cost of plasticizer DOP has increased. In the future, with rising costs and weak supply and demand, it is expected that the price of plasticizer DOP will fluctuate and rise.

1、 Price trend

According to the Commodity Market Analysis System of Shengyi Society, the price of pure benzene in the Shandong region has fluctuated and fallen this month. On February 1st, the price was 6168.67 yuan/ton; On February 28th, the price was 6160 yuan/ton, a decrease of 0.43% from the beginning of the month.
2、 Market analysis
Pure benzene: There was a slight fluctuation in the price range of the domestic pure benzene market today. International crude oil futures have risen, while the price of pure benzene in foreign markets has fluctuated. The confidence in the domestic pure benzene market is average. Shandong pure benzene ground refining has poor shipments, and some manufacturers have slightly lowered their shipping prices. The price of pure benzene in Sinopec’s refineries in East and South China has remained stable at 6150 yuan/ton, to be implemented on January 30th. It is expected that the pure benzene market will experience slight fluctuations in the short term.
This month, the price of pure benzene from Sinopec remained stable at 6150 yuan/ton.
Downstream aspects
3、 Future forecast
Crude oil futures: On February 27th, international crude oil futures rose. The settlement price of the April WTI crude oil futures contract in the United States was $67.02 per barrel, an increase of $1.81 or 2.8%. The settlement price of Brent crude oil futures for May was $72.87 per barrel, an increase of $2.03 or 2.9%.
Foreign pure benzene: On February 27th, FOB Korea fell 9 to 773 US dollars/ton, and CFR China fell 7 to 777 US dollars/ton. FOB Rotterdam has stabilized at $889 per ton, while FOB USG has increased by 5 to 304 cents per gallon.
Overall forecast: The pure benzene market is expected to experience slight fluctuations in the short term, with a wait-and-see attitude towards cost and demand news. Continue to monitor the trends of crude oil and external markets, as well as the impact of changes in pure benzene and downstream equipment dynamics and demand on the price of pure benzene.

Market Overview: Flash Crash and Restoration

After the Spring Festival, the dichloromethane market in Shandong experienced a sharp price drop, with a daily decline of up to 7.11%. It then quickly stabilized and rebounded continuously in the later part of the week, completing a rapid price reduction, inventory allocation, and price repair.
According to the Commodity Market Analysis System of Shengyi Society, as of February 27th, the mixed price of dichloromethane in Shandong region was 1720 yuan/ton, a decrease of 3.77% compared to before the Spring Festival.
Supply side: High inventory is one of the core causes of the market crash after the Spring Festival
During the Spring Festival, enterprises resumed normal production but logistics were suspended, resulting in continuous inventory accumulation. After the resumption of work after the holiday, inventory pressure was concentrated and released. Most production enterprises chose to actively reduce prices and reduce inventory, directly leading to a daily decline of over 7%. When low-priced goods quickly digest inventory, inventory pressure is relieved, and the enterprise’s pricing sentiment is heated up, the quotation gradually tentatively increases. Part of the main equipment in Shandong has been restored, and the industry’s operating rate has rebounded to around 80%.
Demand side: Triple factor resonance, concentrated release of bottom fishing demand
Post holiday stock replenishment: Downstream factories and traders gradually resume work and production after the Spring Festival, and there is a rigid demand for replenishment.
Bottom fishing mentality: After the price fell to a low point this year, it greatly stimulated the stocking willingness of intermediaries and some downstream users, significantly increased market trading volume, and formed an effective pallet force.
Export support: The stable execution of overseas orders also provides an important channel for digesting domestic surplus production, accelerating the process of inventory depletion.
Cost side: Weakening bottom support to make room for price
Liquid chlorine: Inventory in some areas of the Shandong liquid chlorine market remains high, and downstream production has not fully recovered yet. The trend of the liquid chlorine market has declined, and the ex factory price of tank trucks has fallen below 1 yuan/ton. The collapse of liquid chlorine prices has directly weakened the bottom line of cost support for methane chloride enterprises, providing space for enterprises to lower prices and make concessions.
Methanol: The sentiment in the methanol market is weak, with high supply pressure and cautious downstream delivery, resulting in short-term pressure on the market. On February 27th, the benchmark price of methanol in Shengyi Society was 2185.83 yuan/ton, a decrease of 0.7% compared to before the Spring Festival, and the impact on the cost of dichloromethane was relatively limited.
Future outlook:
The current market is in a game stage of “low inventory, recovery of essential demand, and weak cost”. With the full resumption of downstream construction after the Yuanxiao (Filled round balls made of glutinous rice-flour for Lantern Festival) Festival, demand is expected to continue to release smoothly. It is expected that the dichloromethane market in Shandong will maintain a strong and volatile pattern in the short term. However, in the absence of strong support from the cost side, the potential for rebound in the future requires close attention to the downstream’s response to the current price increase and the inventory changes of major manufacturers.