Prompt

1. Today's Summary

① Glycerin prices remained stable within a narrow range. The price for 99.5% glycerin in East China was between RMB 8,600–8,750 per ton (delivered to surrounding areas).

② ECH prices rebounded. The market price in Jiangsu was RMB 11,100–11,200 per ton (delivered, acceptance of bank drafts).

③ Cost support strengthened, but sales pressure persisted, leading to sideways consolidation in the epoxy resin market.

2. Spot Market Overview

Table 1: Summary of Domestic ECH Prices (Unit: RMB/ton)

Data Source: Chempricehub Information

Based on the Jiangsu region as a benchmark, today's ECH price closed at RMB 11,150 per ton, an increase of RMB 125 per ton compared to the previous period, consistent with morning expectations. ECH prices rebounded today. Currently, propylene prices are rising sharply, boosting the ECH market. Although producers have continuously raised prices to high levels, downstream buyers remain cautious about high prices, maintaining only essential demand transactions with limited actual orders released. The current ECH market has a strong bullish atmosphere, making low-price inquiries difficult, but high-price transactions are limited.

3. Production Dynamics

Today, domestic ECH production maintained low-load operation, with industry capacity utilization around 44%. The cost of propylene-based ECH was RMB 11,239 per ton, resulting in a daily profit loss of RMB 339 per ton; the cost of glycerin-based ECH was RMB 11,675 per ton, resulting in a daily profit loss of RMB 575 per ton.

4. Price Forecast

Domestic ECH prices showed a rebound trend today. Propylene prices are currently trending upward at high levels, providing significant cost support and driving up new order prices for ECH. However, downstream buyers remain cautious regarding high prices, resulting in limited transaction volume. It is expected that the center of gravity for domestic ECH prices may continue to rise in the short term.

5. Related Products Status

Epoxy Resin Market: Based on the East China region, today's ex-factory price for liquid E-51 epoxy resin (net water basis) closed at RMB 15,100–15,300 per ton, unchanged from the previous period. In the Huangshan area, the price for solid E-12 epoxy resin (cash settlement, surrounding areas) closed at RMB 14,500–14,700 per ton, flat compared to the last trading day, meeting morning market expectations. With ECH raw material prices rising, epoxy resin plant quotations remained temporarily stable. However, downstream actual order follow-up was mediocre, hindering price transmission, and the market center of gravity remained in rigid consolidation.

Glycerin Market: Based on the East China region, today's price for 99.5% glycerin closed at RMB 8,675 per ton (delivered), unchanged from the previous period, with freight reference costs around RMB 150 per ton, basically meeting morning expectations. The domestic glycerin market operated stably today. Downstream epoxy chlorohydrin prices rebounded and rose, leading to strong wait-and-see sentiment among market participants. However, there was no substantial improvement in demand, overall procurement enthusiasm remained low, and market trading performance was steady. In the short term, epoxy chlorohydrin prices may still have room to rise. If losses decrease and demand increases are anticipated, this will provide some positive support to the glycerin market. It is estimated that domestic glycerin prices will consolidate sideways.

Table 2: List of Domestic ECH Data (Unit: RMB/ton)

Data Source: Chempricehub Information
Remarks:

1. ↓↑ indicates significant fluctuation, highlighting data dimensions with changes exceeding 3%.
2. ↗↘ indicates minor fluctuation, highlighting data dimensions with changes within 0–3%.