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[Industry Focus]：The contradiction between supply and demand intensifies, and the price of epoxy resin may have a downward trend.

Read： 424 Time：16months ago Source：生意社

Before the Dragon Boat Festival, the downstream will continue to replenish, and the reserve is expected to be about 10 days, while the epoxy resin is about to enter the off-season, the demand for new orders will further shrink, and the contradiction between supply and demand will become more prominent. Before the festival, the resin cost surface has a certain support. Epoxy resin prices remain volatile under the support of raw materials, and market prices remain stable. At present, the mainstream negotiation price in East China is 12000-12500 yuan/ton, and the negotiation price in Huangshan solid epoxy resin market is 11900-12400 yuan/ton.

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Before the festival, the raw material bisphenol A market rose rapidly, and the market discussion rose to 9000-9100 yuan/ton. With the rise of the upstream phenol/acetone market, cost pressures have been highlighted, and multiple rounds of bidding have boosted market confidence. BPA factories actively support prices, while the enthusiasm of intermediate traders and downstream factories increases stocking enthusiasm, and market turnover and activity increase. However, on the first day after the festival, the raw material side fell, the market trading rhythm cooled, the factory pressure was not great, and the quotation remained stable. East China offers 9100-9200 yuan/ton.

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On the contrary, the raw material epichlorohydrin market downturn, traders pessimism serious. Due to the light demand, the situation is difficult to change, manufacturers are under great pressure to ship, there is a profit to ship, and new orders are scarce. At present, the mainstream negotiation price in Shandong is 7800 yuan/ton.

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It is expected that the supply will increase in the later period and the short-term domestic load operation will be stable. However, in the third quarter, according to the month-end trial operation plan of Tongling Hengtai epoxy equipment, with the operation of several new equipment in the later period, the domestic epoxy production capacity will increase to 3.3 million tons/year, exceeding the actual demand by more than 100 million tons. In the third quarter, the domestic epoxy resin will still be affected by the imbalance between the growth of supply and demand. On the demand side, the change in terminal demand is not obvious, mainly digesting inventory. At present, the price of epoxy resin is closely related to the cost of raw materials, but the comprehensive support of double raw materials after the festival is insufficient. In the cruel competition, it is not ruled out that the possibility of the shipper's profit and shipment to seize market share, the market will become turbulent and unstable. The market is expected to be stable in the short term, continue to focus on cost changes, long-term supply is sufficient, and the market may continue its downward trend. Supply will increase, short-term domestic load operation is stable, but in the third quarter, according to Tongling Hengtai epoxy equipment month-end trial operation plan, with the later operation of several new equipment, domestic epoxy production capacity will increase by 3.3 million tons/year, more than 100 tons more than the actual demand, the third quarter of the domestic epoxy resin is still affected by the imbalance between supply and demand, production capacity growth and continued sluggish demand contradiction, will always plague the domestic epoxy industry. On the demand side, the change in terminal demand is not obvious, mainly digesting inventory. At present, the price of epoxy resin is closely related to the cost of raw materials, but the comprehensive support of double raw materials after the festival is insufficient. In the cruel competition, it is not ruled out that the possibility of the shipper's profit and shipment to seize market share, the market will become turbulent and unstable. The market is expected to be stable in the short term, continue to focus on cost changes, long-term supply is sufficient, and the market may continue its downward trend.

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