DOP Daily Market Intelligence Report

I. Price Dynamics
- Shandong Province Prices:
- On May 11, 2026, DOP prices in Jinan City, Shandong Province ranged from RMB 7,000 to 9,600 per metric ton; in Weifang City, the range was RMB 7,200 to 7,800 per metric ton, with additional quotations at RMB 6,900 and RMB 11,800 per metric ton.
- On May 21, 2026, multiple enterprises across Shandong Province quoted DOP prices predominantly between RMB 8,500 and 9,500 per metric ton; Lanfan-branded products commanded relatively higher quotations, reaching up to RMB 9,500 per metric ton.
- On May 22, 2026, prices within Shandong Province experienced minor fluctuations but remained broadly stable within the RMB 8,500–9,500 per metric ton range; for example, Shandong Shengfeng Chemical Co., Ltd. quoted RMB 9,255 per metric ton.

- Prices in Other Regions Across China:
- On May 21, 2026, DOP prices stood at RMB 9,300 per metric ton in Nanjing City, Jiangsu Province, and RMB 9,400 per metric ton in Zhenjiang City.
- On May 22, 2026, DOP prices were RMB 9,500 per metric ton in Wenzhou City, Zhejiang Province, and RMB 9,500 per metric ton in Kaifeng City, Henan Province.
- On May 26, 2026, the national average price for Grade I DOP was approximately RMB 9,300.83 per metric ton.

- Benchmark Price Changes:
- The Business Network’s DOP benchmark price declined slightly from RMB 10,100.83 to RMB 10,075.83 per metric ton between May 7 and May 11, 2026, reflecting a modest market correction.

II. Supply-Demand Situation
- Supply Side:
- China’s DOP industry average operating rate in 2025 stood at 68.4%, down 14.2 percentage points from its peak level in 2021, indicating sluggish supply-side growth.
- The East China region’s production capacity share rose to 48.6%, establishing it as the primary supply hub; meanwhile, North China’s smaller-scale producers accelerated their exit amid intensified environmental compliance inspections.

- Demand Side:
- As the principal plasticizer for PVC soft products, DOP enjoys robust demand support from end-use sectors including wire & cable, floor coverings (e.g., vinyl flooring), artificial leather, and medical tubing.
- The domestic substitution of imported materials—particularly in new energy vehicle (NEV) wiring harness insulation and medical infusion tubing—is further propelling DOP demand growth.
- China’s PVC apparent consumption volume is projected to reach 19.82 million metric tons in 2025, representing a 12.7% year-on-year increase, thereby providing a solid foundation for sustained DOP demand.

III. Export Market
- In 2025, China’s DOP exports totaled 186,000 metric tons, marking a 9.7% year-on-year increase, primarily destined for Southeast Asia and the Middle East.
- With the commissioning of Hengli Petrochemical (Dalian) New Materials Technology Co., Ltd.’s newly built 100,000-ton-per-year export-dedicated DOP production line in 2026, export-related incremental contribution is expected to account for 42% of the full-year market expansion.

Analysis & Assessment
- Price Trend: Recent DOP market prices have exhibited mild volatility but overall stability. Supply-side growth remains constrained by limited operating rates, while demand continues steady expansion supported by PVC soft products and emerging applications such as NEV components. Export market growth provides an additional positive impetus.
- Market Structure: East China has become the dominant DOP supply region, with further consolidation of production capacity. Leading enterprises—through integrated operations and technological upgrades—are demonstrating resilient profitability, whereas small- and medium-sized producers face mounting pressure toward market exit.
- Competitive Landscape: Firms excelling in technological upgrading, green transformation, and industrial chain synergy are poised to gain competitive advantage.

Forecast
- Price Outlook: DOP market prices are expected to remain stable or experience only marginal fluctuations over the near term. Expanding export volumes and steady downstream demand will continue to provide underlying price support.
- Market Trend: The DOP industry is entering a new phase characterized by “existing-capacity optimization coupled with structural expansion.” Technological upgrading, green transformation, and industrial chain collaboration will become core strategic imperatives for enterprise development. Entities embodying these attributes are likely to generate above-average returns, while traditional, scale-driven capacities lacking such advantages will face ongoing rationalization pressures.
- Supply-Demand Outlook: Driven by rapid growth in new energy vehicles and stable demand for PVC soft products, DOP demand is expected to maintain steady growth. Meanwhile, supply-side expansion remains constrained by operating-rate limitations; however, export growth will effectively alleviate supply-side pressure.