Epichlorohydrin Morning Market Brief

I. Key Points

1. East China 99.5% glycerin is trading in a weak consolidation pattern, with delivered prices hovering around CNY 8,800–9,000/ton.
2. ECH (Epichlorohydrin) prices remain largely stable with minor fluctuations; Jiangsu market delivered prices are centered around CNY 11,200–11,300/ton on an acceptance bill basis.
3. Cost support persists, but market transaction sentiment remains mediocre, leading to range-bound consolidation for epoxy resin.

Core Logic: Cost pressures continue to weigh on the market, significantly compressing profit margins. Although producers show intent to maintain prices, downstream buyers primarily replenish inventory opportunistically at lower levels. Transactions are mostly driven by rigid demand, with limited volume growth in actual orders.

Notes:

1. The two price points represent spot prices from the two preceding working weeks of this week, not weekly averages.
2. The change rate refers to the period-over-period percentage change.
3. Unit: CNY/ton