① The domestic Bisphenol A (BPA) market experienced a significant rally in September, supported by rising costs and tight supply, with holders adopting a bullish pricing stance.
② Domestic BPA capacity utilization stood at 61.99% in September, up 1.51 percentage points month-on-month.
③ Actual demand for BPA declined by 3.77% in September.
During this period, the BPA market saw substantial price increases. The average price in East China reached RMB 10,661/ton, up 14.05% month-on-month. In the early-to-mid part of the month, military conflicts between the US and Iran triggered a sharp rise in international crude oil prices, leading to an upward trend across the BPA industrial chain. Costs increased significantly, while low inventory levels among BPA producers resulted in tight spot supply. Strong bullish sentiment prevailed in the market; major producers continuously raised their listed prices. Holders adopted a price-push strategy with strong reluctance to sell, stimulating downstream buyers to enter the market for restocking, which drove prices sharply higher. However, due to the rapid initial price surge, downstream follow-through was limited, buying interest weakened, and pre-holiday stocking intentions diminished. Nevertheless, producer deliveries remained sluggish, spot supply stayed tight, and holder sentiment remained supported. Consequently, the BPA market stabilized and transitioned smoothly during the mid-to-late part of the month.
Domestic BPA Price Movement Table (Unit: RMB/ton)
| Region | Market | Current Period | Previous Period | Same Period Last Year | MoM Change | YoY Change |
|---|---|---|---|---|---|---|
| China | China | 10567 | 9224 | 7812 | 14.56% | 35.27% |
| East China | East China | 10661 | 9348 | 8011 | 14.05% | 33.08% |
| East China | Huangshan | 10166 | 8883 | 7560 | 14.44% | 34.47% |
| East China | Shandong | 10721 | 9333 | 7838 | 14.87% | 36.78% |
| North China | North China | 10721 | 9333 | 7838 | 14.87% | 36.78% |
Data Source: Chempricehub Information
Losses increased during the month.
The rise in BPA prices exceeded the increase in raw material costs.
October Forecast: Pre-holiday stocking enthusiasm was not high. After the National Day holiday, downstream buyers may enter the market to restock. During the holiday, companies focused mainly on fulfilling existing orders, resulting in limited inventory accumulation. Suppliers maintained a firm stance. However, as buying interest weakens and spot supply increases, holders' willingness to sell may improve, while cost-side support remains moderate. Overall, the market is expected to show a trend of rising first, then falling.
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