In mid to early April, the epoxy resin market continued to be sluggish, and towards the end of the month, due to the impact of rising raw materials, the epoxy resin market broke through and rose. At the end of the month, the mainstream negotiated price in East China was 14200-14500 yuan/ton of purified water for delivery, and the negotiated price in Mount Huangshan solid epoxy resin market was 13600-14000 yuan/ton. The final week will see an increase of around 500 yuan/ton.
In April, the dual raw materials increased in temperature, with strong cost support. The market for raw material bisphenol A has shown a significant upward trend. Prior to the holiday, due to tight supply and tight spot resources, the market quotation quickly exceeded 10000 yuan. At the end of the month, the negotiated price of bisphenol A in the market was 10050 yuan/ton, ranking among the top in the chemical industry’s rise and fall list. Holders have little intention of selling without pressure, but the downstream procurement pace has slowed down after the price rose to 10000 yuan. With the approaching holiday, the main demand for follow-up on actual orders on the market is limited, with fewer large orders. However, the upward trend of the bisphenol A market has a strong support for downstream epoxy resins.
The raw material epichlorohydrin also showed a significant increase in late April. On April 20th, the market negotiated a price of 8825 yuan/ton, and at the end of the month, the market negotiated a price of 8975 yuan/ton. Although the pre holiday trading was slightly weak, it still has a supportive effect on the downstream epoxy resin market from a cost perspective.
In the future, the epoxy resin market maintained a strong upward trend in early May. From a cost perspective, the main raw materials of epoxy resin, bisphenol A and epichlorohydrin, are still operating at high levels in the short term, and there is still some support from the cost perspective. From the perspective of supply and demand, the overall inventory pressure in the market is not significant, and factories and traders still have a mentality of sustained price increases; On the demand side, resin manufacturers have seen an increase in orders before the holiday and deliveries after the holiday, indicating a sustained and stable demand. At the end of May, there was a downward risk in the market. The supply side of Dongying Hebang’s 80000 ton/year liquid epoxy resin market was continuously negative, with an increase in market input. Zhejiang Zhihe’s 100000 ton/year epoxy resin new device was put into trial operation, and Jiangsu Ruiheng’s 180000 ton/year device was restarted. The supply side continued to increase, making it difficult for the demand side to make significant changes.
In summary, the domestic epoxy resin market may show a trend of first growth and then decline in May. The negotiated price for liquid epoxy resin in the market is between 14000 to 14700 yuan/ton for water purification, while the negotiated price for solid epoxy resin in the market is between 13600 to 14200 yuan/ton for delivery.
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