The epoxy resin market continues its downward trend.

1. Today's Summary

① The Jiangsu market price for the raw material ECH (Epichlorohydrin) dropped by 150 yuan/ton to 11,100 yuan/ton today, indicating a decline in cost-side pressure.

② Downstream demand remained weak with low purchasing enthusiasm, causing the epoxy resin market to continue its downward trend.

2. Spot Market Overview

Table 1: Domestic Epoxy Resin Price Summary (Unit: Yuan/Ton)

Based on the East China region, the ex-factory price for liquid E-51 epoxy resin closed at 15,000–15,300 yuan/ton today, representing a day-on-day decrease of 100 yuan/ton. In the Huangshan area, the cash spot price for solid E-12 epoxy resin held steady at 14,500–14,900 yuan/ton compared to the previous trading day, aligning with morning market expectations. From a cost perspective, raw material prices declined; meanwhile, downstream demand showed cautious follow-through amid the downtrend, with insufficient new orders released, leading to a continued downward shift in the market center.

3. Production Dynamics

The domestic epoxy resin industry’s capacity utilization rate is hovering around 49%. Today, the daily average cost for liquid epoxy resin in East China was 15,415 yuan/ton, resulting in a calculated daily average gross margin of -215 yuan/ton. Actual operational data suggests that there remains a discrepancy between theoretical margin improvements and actual profit recovery.

4. Price Forecast

With declining costs on the supply side, epoxy resin manufacturers find it difficult to sustain current quotations. Amid the downward market trend, downstream buyers have increased their wait-and-see attitude, with limited real-order follow-through, putting pressure on the market center to decline further. The epoxy resin market is expected to operate weakly. As there are expectations for continued drops in raw material costs, manufacturer shipments will face pressure, increasing the willingness to offer discounts. Consequently, there is a risk of further market decline. Attention should remain on raw material prices and downstream procurement pace; cautious operation is recommended.

5. Related Products

Bisphenol A Market: Based on the East China region, Bisphenol A closed at 10,750 yuan/ton today, within a range of 10,700–10,800 yuan/ton, remaining stable compared to the previous trading day and consistent with morning expectations. Volatility in the Bisphenol A market was limited today. While costs rose significantly, downstream essential demand followed through adequately, with some buyers stocking up at lower levels. However, counter-offers remained at low levels, and holders showed willingness to sell. Low-priced inventory exists in certain regions, but the negotiation center for mainstream transactions has changed little.

Epichlorohydrin (ECH): Based on the Jiangsu region, ECH prices closed at 11,100 yuan/ton today, a drop of 150 yuan/ton from the previous period, aligning with morning expectations. The ECH market continued its downward trajectory. Pessimism pervades the current market, with weak trading activity. Manufacturers’ shipment volumes were average, and new orders continued to be negotiated at discounted prices to facilitate sales. However, downstream confidence in future prospects remains lacking, leading to cautious participation in new orders. Transactions are primarily limited to small-volume essential purchases, with limited release of real orders.

6. Data Calendar

Table 2: Domestic Epoxy Resin Data Overview (Unit: Ten Thousand Tons)