[Industry Focus]：The price of phenol acetone continues to rise, and the price of phenol and acetone increases by nearly 20%.

in September, bisphenol A rose sharply by nearly 20%. According to the monitoring data of the commercial agency, on September 1, the domestic bisphenol A market quotation was 13,000 yuan/ton, and on September 22, the market quotation rose to 15450 yuan/ton. The cumulative increase in September was 18.85%, showing a sharp upward trend. In particular, the market rose nearly 1500 yuan/ton in three working days this week, which continued to rise sharply, far exceeding expectations.

Spot resources continue to be tight, industry equipment operating rate is low, traders are reluctant to sell, factories continue to rise, the market rose sharply.

Since September, bisphenol A continued to rise strongly last month. Major manufacturers mainly supply long-term customers, with limited spot sales, limited import supply and a large proportion of contracts. In September, the RMB continued to depreciate and the US dollar exchange rate exceeded 7. External simultaneous import negotiations were cautious. Coupled with the impact of typhoon weather, the import cycle was delayed to varying degrees.

In terms of equipment, in the parking and maintenance of Sinopec Mitsui equipment, Huizhou Zhongxin stopped at the beginning of the month to the 5th, and Yanhua Polycarbonate resumed its restart on the 15th, but the supply loss in September was nearly 20,000 tons. At present, the operating rate of the industry is close to 70%. Since August, under the condition of continuous tight supply, factories have been affected by raw materials. In this case, the holder is obviously unwilling to sell and the low level cannot appear. After the factory bid, the market mostly reported price increases.

in September double raw materials continued to rise, the increase is larger, downstream bisphenol A cost support rose.

continued to rise, with phenol rising 14.45% and acetone rising 16.6%. Under cost pressure, BPA plants have repeatedly raised their listing prices, and traders have actively pushed up their quotations.

the domestic phenol market continued to rise and fell slightly on the 21st, the support to the downstream remained strong, and the supply of phenol continued to be tight in September. According to statistics, the operating rate of domestic phenol plant is 75%, which is relatively low compared with the long-term probability of 95%. In the medium term, the 650,000-ton/year phenolic ketone plant in the first phase of Zhejiang Petrochemical Company stopped at the washing tower on the 6th and restarted after a week of shutdown. In addition, the typhoon weather in East China in the mid-term affected the time of cargo ships and arrival at ports, making it difficult to replenish imported sources. Holders were visibly reluctant to sell, the offer rose, and the focus of the discussion rose. As of September 21, the East China phenol market was negotiated to 10750 yuan/ton. Judging from the whole country, the average negotiation price is 10887 yuan/ton. Compared with the national average price of 9512 yuan/ton on September 1, the increase was 14.45%.

raw material acetone also rose sharply, falling slightly on the 21st, but the support to the downstream is still strong. On September 21, the East China acetone market negotiated to 5450 yuan/ton, and the national average market price was 5640 yuan/ton. Compared with the national average price of 4837 yuan/ton on September 1, the increase was 16.6%. The continued rise in acetone in September was mainly due to the decline in its own supply side and the increase in downstream export orders, which was conducive to the support of raw materials. The domestic acetone industry has a low operating rate. More importantly, the inventory of East China ports reached a low point in the year in September. Last weekend, the statistical port inventory fell to 30,000 tons, a new low at the beginning of the year. It is understood that a small amount of supply will be supplemented at the end of the month. Although there is no pressure on the supply at present and there is still a continuous upward trend in the short term, it is necessary to pay attention to the maintenance star of Sinopec Mitsui. Harbin is expected to restart on the 25th, and the 650,000-ton/year phenolic ketone plant in Yantai Wanhua will be put into production in October.
raw material market good raw material market, PC downstream epoxy resin also broke through the pull-up.

the PC market rose unilaterally in September, spot prices of all brands rose. As of September 21, the reference price for the Commercial Society PC was 18316.7 yuan/tonne compared to 17250 yuan/tonne at the beginning of the month. + 6.18%. During the month, the PC factory adjusted prices several times, Zhejiang Petrochemical bid for several rounds of weekly increase of 1000 yuan, the increase significantly boosted the market, PC hit a high in the second half of the year. Downstream epoxy resins continue to be affected by the feedstock bisphenol A and epichlorohydrin. Due to the different ups and downs of dual raw materials, the increase of epoxy resin in the first half of the year is not obvious. However, since this week, under cost pressure, epoxy resin manufacturers are obviously reluctant to sell, and the price is quite high. On the 21st, the price of liquid resin in East China rose to 20,000 yuan/ton.

Recently, the domestic bisphenol A market is still in a tense state. The main supply contract users of the factory have no production and marketing pressure, but they are expected to continue to rise under the pressure of high cost of raw materials. Holders are unwilling to report strong sales and have no shipping pressure. There is still room for downstream epoxy resin and PC to continue to rise. They are expected to continue to rise in the short term and pay attention to on-site auctions.

Source: Business Club

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