1. Today's Summary

① The Bisphenol A (BPA) market remained stable today, with sluggish downstream procurement and no inventory pressure on holders.
② The phenol-acetone market declined today, driven by falling cost values.

2. Spot Market Overview

Table 1: Domestic BPA Price Summary (Unit: RMB/ton)

Based on the East China region, today’s closing price for BPA was 11,200 RMB/ton, within a range of 11,100–11,300 RMB/ton. This remained stable compared to the previous trading day, consistent with morning expectations. The BPA market is currently in a stalemate. Prices have decoupled from costs, and supply-demand fundamentals are relatively balanced. Suppliers face no pressure and maintain a calm sentiment, keeping quotes steady. On the demand side, activity is quiet, with few signs of buying or selling transactions.

3. Production Dynamics

Today, the domestic BPA capacity utilization rate hovered around 63%. The industry profit margin for BPA stood at -364 RMB/ton.

4. Price Forecast

In the short term, the BPA market is expected to remain primarily stable. Trading activity within the market is limited, and there is currently no rush for stockpiling. Holders have limited inventory, offering prices remain steady, and sentiment is calmly stable. Short-term market fluctuations are likely to be minimal. Going forward, it is recommended to closely monitor actual downstream procurement expectations and production/shipping schedules of major manufacturers. Cautious operation is advised.

5. Related Products Status

Phenol: Based on the East China region, today’s phenol price closed at 8,750 RMB/ton, down 125 RMB/ton from the previous trading day. The domestic phenol market center of gravity softened further today. While raw material pure benzene prices remained strong—exceeding phenol prices by over 1,000 RMB/ton—the "expensive flour" phenomenon meant that phenol was more constrained by weak demand. Holders faced difficulties in offloading goods and continued to offer cautious discounts, revealing a fatigued market trend. Factory quotes came under downward pressure, and traders participated cautiously due to insufficient negotiation follow-through.

Acetone: Based on the Jiangsu region, today’s acetone price closed at 8,800 RMB/ton, down 175 RMB/ton from the previous trading day. The center of gravity for the East China acetone market shifted lower today. Although petrochemical enterprises raised their opening prices, this had little boost effect on the market. Holders mostly quoted prices in line with market trends. Pre-holiday stockpiling enthusiasm among terminal factories cooled, leading to reduced actual transaction volumes and causing the market center of gravity to decline.

Epoxy Resin: Based on the East China region, today’s ex-factory price for liquid E-51 epoxy resin (water purification grade) closed at 15,200–15,600 RMB/ton, down 150 RMB/ton month-on-month. In the Huangshan region, the spot cash price for solid E-12 epoxy resin closed at 14,400–14,700 RMB/ton, down 100 RMB/ton from the previous trading day, meeting morning market expectations. Raw material prices remained temporarily stable; however, downstream purchasing enthusiasm was low. Trading atmosphere was thin, putting pressure on epoxy resin sales and leading to discounted offers and price probing.

Polycarbonate (PC): Today, the domestic PC market maintained weak oscillations. By afternoon close, the negotiated price range for domestically produced PC materials in East China was 12,550–15,050 RMB/ton, with some centers of gravity dropping approximately 100 RMB/ton compared to yesterday. No new factory price adjustments were announced by domestic PC plants today; weekly prices remained stable or saw reductions ranging from 300 to 450 RMB/ton. One northern PC plant continued to reduce its operating rates. In the spot market, both East and South China regions continued to trend downward amid oscillations. Fundamentals lacked positive drivers, leaving traders in a wait-and-see bearish stance. There was a strong willingness to sell in line with market trends, but pre-holiday stockpiling operations by downstream users were rare, maintaining only minimal rigid demand. The trading atmosphere remained cold.

Table: Related Product Price Summary (Unit: RMB/ton)