The current domestic epoxy resin market continues to be sluggish. Raw material bisphenol A fell negatively, epichlorohydrin stabilized horizontally, and resin costs fluctuated little. Holders were cautious and cautious, maintaining a focus on real order negotiations. However, downstream demand for goods is limited, and the actual delivery volume in the market is insufficient, resulting in a weak overall atmosphere. As of the closing date, the mainstream negotiated price for East China liquid epoxy resin is 13500-13900 yuan/ton of purified water leaving the factory; The mainstream negotiation price of Mount Huangshan solid epoxy resin is 13400-13800 yuan/ton, delivered in cash, and the negotiation focus is stable and weakening.
The trading atmosphere in the liquid epoxy resin market in South China is weak, and there is currently little news of market trading in the morning. Factories are actively offering new orders, and downstream restocking sentiment is not high. Mainstream negotiations are temporarily referring to large barrels of 14300-14900 yuan/ton for acceptance and delivery, and high-end prices for shipment are not smooth.
The liquid epoxy resin market in the East China region has a light buying trend, with a significant decline in dual raw materials. Some resin factories have reported a narrow range of new orders, which makes it difficult for them to negotiate. Downstream buying is light, and mainstream negotiations are temporarily referring to the acceptance and delivery of large barrels of 14100-14700 yuan/ton.
The solid epoxy resin market in East China and South China is relatively light and organized, with weak performance in the raw material bisphenol A and epichlorohydrin markets. The overall cost support performance is weak, and the shipment of new orders for solid epoxy resin is not smooth. Some manufacturers can negotiate for new orders to be shipped at a discount. In the morning, the mainstream negotiations in the East China market temporarily refer to the acceptance and delivery of 13300-13500 yuan/ton, while the mainstream negotiations in the South China market temporarily refer to the acceptance and delivery of 13500-13700 yuan/ton.
Supply and demand situation:
Cost side:
Bisphenol A: The current domestic spot market for bisphenol A has a light atmosphere, with slow downstream terminal demand. In addition, the weak raw material market continues, and the market has a strong wait-and-see atmosphere, with only a small number of inquiries remaining in demand. The mainstream market in East China reported a price of 9550-9600 yuan/ton within the day, with mainstream negotiations reaching a low end of 9550 yuan/ton. It has also been heard that prices are slightly lower, a decrease of 25 yuan/ton compared to yesterday. Manufacturers in the North China and Shandong regions are following the market trend, and the focus of market trading has slightly declined.
Epichlorohydrin: Today, the domestic ECH continues its weak adjustment trend. At present, the market is filled with air atmosphere, with manufacturers mainly shipping at high prices. However, the situation of weak demand has not improved, resulting in continued pressure on manufacturers to ship and a bearish attitude towards the future market. New orders often continue to sell at lower prices, and there are also rumors of lower market prices, but the actual order volume is insufficient. As of the closing, the mainstream negotiated price in Jiangsu and Mount Huangshan markets was 8400-8500 yuan/ton for acceptance and delivery, and the mainstream negotiated price in Shandong markets was 8100-8200 yuan/ton for acceptance and delivery.
Demand side:
At present, the overall device load of liquid epoxy resin is above 50%, while the overall device load of solid epoxy resin is around 40%. Downstream demand for follow-up is limited, and the actual delivery volume is insufficient, resulting in a continuation of a calm market atmosphere.
4、 Future Market Forecast
Recently, the center of gravity of the epoxy resin market has been weak, and the demand side is sluggish and difficult to recover. The inventory pressure of manufacturers is obvious, and the operating load of some devices has been reduced. The raw materials of bisphenol A and epichlorohydrin are also in weak adjustment and operation. The weak cost side has intensified the cautious bearish sentiment of operators, but the industry profit is significantly squeezed, and the profit space for holders is limited. Anticipate a narrow and weak trend in epoxy resin trading, pay attention to the trend of upstream raw materials and downstream demand follow-up.