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[Industry Focus]：Epoxy resin market "stable" word head, the market how to break?

Read： 361 Time：2months ago Source：Epoxy New Horizon

1. Market Overview

recently, epoxy resin price the trend of finishing operation is mainly driven by the limited impact of price fluctuations of raw materials BPA (bisphenol A) and ECH (epichlorohydrin). Although there is a small shock in the raw material side, the overall cost change has not caused a significant impact on the epoxy resin market. Specifically, the mainstream ex-factory water purification price of liquid epoxy resin in East China is stable between 12700-13100 yuan/ton, while the acceptance price of solid epoxy resin is in the range of 12800-13300 yuan/ton. This shows that in the current market environment, the price of epoxy resin is relatively stable and lacks obvious upward or downward momentum.

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2. Cost Support Analysis

the cost of bisphenol A is stable: As one of the important raw materials of epoxy resin, the cost of bisphenol A is mainly affected by the price fluctuation of upstream phenol acetone. At present, the phenol acetone market is stable and small, resulting in limited fluctuations in the cost of bisphenol A. In addition, the overall load of the industry is not high, the improvement of downstream terminal demand is not obvious, the market just needs to purchase the rhythm continues, it is expected that the bisphenol A market will continue to be organized, the mainstream in East China out of the warehouse self-raising price to maintain between 9575-9975 yuan/ton.

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Epichlorohydrin supply end support: The epichlorohydrin (ECH) market is affected by both cost and supply. Although manufacturers face the challenge of downstream high price follow-up cautious, but due to cost factors and supply-side support, manufacturers low intention is not high, adhere to a strong offer. However, real orders are limited, high-end transactions are under pressure, and the market as a whole is showing a trend of great stability and small movements. ECH acceptance and delivery prices in East China are tentatively set at 7550-7950 yuan/ton.

Analysis of 3. Supply and Demand

from the perspective of supply and demand, the domestic epoxy resin market capacity utilization rate remains above 50%, showing that the market supply is relatively sufficient. However, downstream demand continues to be weak and there is a shortage of real orders, resulting in a contradiction between supply and demand in the market. This imbalance between supply and demand limits the further upward space of the epoxy resin market, and also makes it difficult for the market price to form an effective breakthrough.

4. Future Market Forecast

looking to the future, the epoxy resin market or will continue to maintain a weak finishing pattern. The shock finishing situation of dual raw materials (BPA and ECH) means that the cost fluctuation of epoxy resin is limited, and it is difficult to form a significant support or suppression effect on the market. At the same time, the manufacturer's location pressure is too large, the industry mentality is not good, downstream terminal demand in the short term is difficult to significantly improve. In this context, low-cost sources of goods will still exist, the actual transaction volume is insufficient, and the market presents a state of price without market. Therefore, it is expected that the epoxy resin market will continue to be weak in recent days.

Source: Epoxy New Horizon

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