Epoxy resin market continues its upward trend (20260909)

1. Today's Summary

• Bisphenol A prices in the East China market rose by 150 yuan/ton to 10,250 yuan/ton today, and epichlorohydrin prices in the Jiangsu market rose by 50 yuan/ton to 11,550 yuan/ton, with the cost side holding firm and moving upward.
• Downstream inquiries remained limited to small-lot essential needs, and the epoxy resin market continued to be pushed up in step with raw materials.

2. Spot Market Overview

Table 1 Domestic Epoxy Resin Price Summary (Unit: yuan/ton)

Data source: Chempricehub Information

Using East China as the benchmark, today's ex-works price of liquid E-51 epoxy resin closed at 14,700-15,300 yuan/ton, up 100 yuan/ton day-on-day. In the Huangshan area, the cash price of solid E-12 epoxy resin, delivered to surrounding areas, closed at 13,900-14,100 yuan/ton, up 100 yuan/ton from the previous trading day, in line with morning market expectations. As prices of both raw materials rose, epoxy resin producers continued to lift opening quotes, but downstream follow-through sentiment was weak and actual transactions remained scarce.

3. Production Update

The capacity utilization rate of the domestic epoxy resin industry is around 47%. Today, the daily average cost of liquid epoxy resin in East China was 15,323 yuan/ton, with a daily average accounting gross profit of -323 yuan/ton. Judging from actual operating conditions, there is still some mismatch between the improvement in theoretical gross profit and the recovery of actual profits.

4. Price Forecast

Prices on the cost side continued to rise, and holders kept raising opening quotes in an effort to repair industry profits. However, downstream buying remained cautious and inquiries were sparse, limiting the upward movement in the negotiation focus for actual deals. Cost support for the epoxy resin market is expected to remain relatively strong, with prices trending steady to slightly firmer. It is advisable to keep a close watch on raw material prices and downstream purchasing pace and to operate cautiously.

5. Related Product Markets

Bisphenol A market: Using East China as the benchmark, bisphenol A closed at 10,250 yuan/ton (range: 10,200-10,300 yuan/ton) today, up 150 yuan/ton from the previous trading day and in line with morning expectations. The bisphenol A market continued to rally today. International crude oil was strong, pushing up the cost side substantially, and mainstream producers successively raised list prices. Holders withheld supply and were reluctant to sell, while downstream inquiry sentiment was subdued and acceptance of high prices was insufficient, leaving actual trading volumes limited.

Epichlorohydrin (ECH): Using Jiangsu as the benchmark, ECH prices closed at 11,550 yuan/ton today, up 50 yuan/ton day-on-day and in line with morning expectations. ECH market prices moved upward today. With clear cost support and no pressure on spot supply, producers were in a positive mood and strongly inclined to lift new order prices, with the negotiation focus shifting progressively higher. Although downstream buyers remained cautious toward high-priced feedstock, low-priced supply was hard to find. Trading was mainly limited to essential needs, and actual order volumes released were limited.

6. Data Calendar

Table 2 Domestic Epoxy Resin Data Overview (Unit: 10,000 tons)

Data source: Chempricehub Information

Notes:

1. ↓↑ Denotes a significant fluctuation, highlighting data dimensions with a change of more than 3%.
2. ↗↘ Denotes a narrow fluctuation, highlighting data dimensions with a change within 0-3%.