Epoxy Resin Market Morning Update

I. Key Market Focus Points

1. International crude oil prices rose as market concerns persisted over potential escalation of the U.S.-Iran conflict, compounded by Houthi attacks on Saudi Arabia increasing supply risks. ICE Brent futures for December delivery closed at USD 113.17/bbl, up USD 4.35/bbl (month-on-month +4.00%).
2. Prices of both key raw materials continued to decline, leading to weaker production costs for epoxy resins.
3. Insufficient new orders from the demand side resulted in a slight downward adjustment in epoxy resin market prices.

Core Logic: Declining prices of key raw materials have weakened overall epoxy resin production costs. Coupled with insufficient rigid demand from downstream sectors, sellers have lowered their quotations, causing the market center of gravity to shift downward.

II. Price Table

Notes:

1. All product prices listed in the table are in RMB, unit: CNY/ton.
2. All RMB prices listed above include VAT.
3. The two price points represent spot prices from the two previous working days before this week.
4. "Change" refers to the month-on-month variation.
   Data Source: Chempricehub Information

III. Market Outlook

The raw material markets continue to weaken, and downstream demand remains limited to rigid requirements. With bearish sentiment persisting, producers are under pressure to lower their ex-factory pricing, resulting in a downward shift in the market center. Raw material prices may continue to fluctuate weakly. Given the dual pressures of softening costs and weak demand, profit recovery for epoxy resin producers is expected to be hindered. Market prices are likely to trade steadily but slightly weak. Prudent operations are recommended.