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[Industry Reports]：Epoxy Resin Industry Chain market downturn, analysis of market situation of bisphenol A and epichloro-propane

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Bisphenol A market fell again and again, the entire industrial chain is not good, terminal support difficulties, poor demand, along with the oil price crash, the industrial chain downward negative release, the market lacks effective positive support, it is expected that the short-term market still has downside space.

epichlorohydrin market prices fell. Recent raw material propylene, glycerin prices are down, cost support weakened, downstream demand weakness, coupled with the impact of some device restart news, the market downturn sentiment spread, holders of goods to allow profits to ship, epichlorohydrin market talks center of gravity decline, the closing has been as low as 16000 yuan/ton.

The epoxy resin market follows the raw materials obviously, the downstream bearish mentality is still strong, the purchasing enthusiasm is extremely poor, resulting in resin factory shipments under pressure, low prices, ultra-low prices continue to appear, the price without the market is more serious, the later epoxy resin market still has continued to fall expectations.

Bisphenol A

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Data source: CERA/ACMI

prices: The domestic BPA market fell sharply last week. As of June 24, the reference price of bisphenol A in East China was about 13400 yuan tons, down 1300 yuan from last week. This week, Zhejiang Petrochemical's two auctions ended in one round. The total auction price dropped by about 1200 yuan tons. In particular, the auction price on Thursday fell by nearly 1000 yuan, causing the market atmosphere to decline rapidly. The market price of bisphenol a continued to fall. In terms of theoretical cost values, the price of bisphenol A has been below the cost line

raw materials: the phenolic ketone market continued to decline last week. The latest reference price of acetone is temporarily stable at 5650 yuan tons, while the latest reference price of phenol is 10650 yuan tons, down about 300 yuan
from last week.

Demand: The decline in downstream epoxy resins and PCs has intensified, especially epoxy resins. Mainstream factories reduce the burden, some units stop production and maintenance, the industrial chain synchronized down

device: Nantong star equipment production and maintenance, industrial equipment overall operating rate of about 70%.

Epichlorohydrin

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Data source: CERA/ACMI

Price: Last week, the domestic epichlorohydrin market continued to decline: as of June 24, the reference price of epichlorohydrin in East China market was 17000 yuan tons, and the price of raw materials decreased by 800 yuan

Raw Material: The latest reference price of propylene is 7750 yuan tons, down 150 yuan from last week. The latest reference price of 99.5% glycerin in East China is 12400 yuan tons, down 400 yuan
from last week.

Demand: The operating rate of the epoxy resin industry has dropped significantly. On the eve of the decline, demand fell further and transport pressures on epichlorohydrin manufacturers increased, mainly through lower prices and settlement positions;

plant: Hebei Jiaao 60,000 tons of annual plant restart, Jiangsu Haixing 130,000 tons of annual plant is expected to resume by the end of July; Shandong Xinyue 60,000 tons of annual unit shutdown, Jiangsu Ruiheng 150,000 tons of annual unit shutdown maintenance, Shandong Binhua 75,000 tons of annual unit shutdown; the industry's overall operating rate is about 50%.

Epoxy resin

环氧树脂2.png

Data source: CERA/ACMI

Price: Two types of epoxy resin markets fell sharply last week: as of June 24, the reference price of East China liquid epoxy resin was 22500 yuan/ton, down 1000 yuan from the previous week, and the reference price of solid epoxy resin was 19800 yuan/ton, down 1200 yuan from the previous week.

raw materials: the epoxy resin industry chain panic fell sharply this week. Bisphenol A fell by 1300 yuan/ton in a week, and epichlorohydrin fell by 800 yuan/ton, mostly in a state of infinite empty decline. Epoxy resin cost support significantly weakened, the market down period downstream buy gas more insufficient.

Demand: The market opened this week and the epoxy resin market continued to decline. Liquid and solid epoxy resin prices have been down to the cost line, inventory pressure under some factories at this time announced to stop maintenance, the rest of the production load has been reduced to avoid risks.

device: Sanmu Shandong, Henan device has not been restarted; Kunshan South Asia, Hebei Linyuan maintenance, other liquid resin factories have a negative, liquid resin overall operating rate of about 50%; solid resin operating rate in 3-4 percent.

Source: Epoxy resin exchange and trading, epoxy resin and application

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