The epoxy resin market remains in a stalemate with prices consolidating.

1. Daily Summary

① Today, the East China market price for raw material ECH (epichlorohydrin) dropped by 25 yuan/ton to 11,125 yuan/ton, indicating continued weakening on the cost side.

② Downstream demand remains driven by rigid requirements, resulting in a stalemate and consolidation in the epoxy resin market.

2. Spot Market Overview

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

Based on the East China region, today’s ex-factory price for liquid E-51 epoxy resin closed at 14,900–15,200 yuan/ton, remaining unchanged from the previous period. The cash-settlement price for solid E-12 epoxy resin in the Huangshan area closed at 14,200–14,700 yuan/ton, also stable compared to the last trading day, aligning with morning market expectations. Raw material prices experienced minor fluctuations; epoxy resin producers maintain a willingness to hold prices firm. However, actual downstream orders are limited, leading to a stalemate and consolidation in the market center.

3. Production Dynamics

The capacity utilization rate of the domestic epoxy resin industry is hovering around 50%. Today, the daily average cost for liquid epoxy resin in East China was 15,395 yuan/ton, with a calculated daily average gross margin of -395 yuan/ton. In terms of actual operations, there remains a discrepancy between theoretical margin improvements and real profit recovery.

4. Price Forecast

Cost-side prices continue to weaken. Due to significant losses incurred previously, epoxy resin producers have kept quotes stable for now. Downstream buyers maintain a purchasing rhythm based on rigid needs, but actual order follow-through is insufficient, resulting in a stalemate in market prices. It is expected that costs for epoxy resin will remain high. Affected by prior losses, epoxy resin prices are likely to maintain narrow-range consolidation. Attention should be paid to raw material prices and downstream procurement rhythms; cautious operation is recommended.

5. Related Product Status

Bisphenol A Market: Based on the East China region, today’s Bisphenol A price closed at 10,700 yuan/ton, with a range of 10,700–10,700 yuan/ton, remaining stable compared to the previous trading day and consistent with morning expectations. The domestic Bisphenol A market has stopped falling and stabilized. Prices of raw materials phenol and acetone continue to rise, coupled with a significant surge in international crude oil prices. The industry faces substantial losses, and suppliers show no intention to offer discounts. However, due to poor response from the demand side, inquiries remain quiet, and intra-market transactions are currently stabilizing.

Epichlorohydrin (ECH): Based on the Jiangsu region, today’s ECH price closed at 11,125 yuan/ton, down 25 yuan/ton from the previous period, consistent with morning expectations. Today, ECH prices continued their weak trend with a slight decline. Currently, cost pressure persists for ECH, but demand dominates the market. High inventories of downstream finished products and limited orders have led to pessimistic sentiment and cautious procurement of raw materials. This results in sluggish shipments for ECH manufacturers, who primarily negotiate discounts on new orders to move inventory. Trading activity is quiet, and transaction volumes are limited.

6. Data Calendar

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