The hottest epoxy resin is rising like a tide, and

2022-09-20
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Epoxy resin is rising like a tide! In the short term, the high price market will continue

epoxy resin is rising like a tide! In the short term, the high price market will continue

April 12, 2021

I. market status

last week, the price support sentiment in the domestic epoxy resin market was high. On the basis of the high price, it rose another 4000 yuan a week, and the double raw materials epichlorohydrin and bisphenol A also rose broadly within the week. At present, liquid resin is at the level of nearly 40000 yuan/ton, and bisphenol A is at the level of 30000 yuan/ton. The traditional "ceiling" of the market no longer exists. See the following for the specific market:

data source: cera/acmi

II. Market Overview

bisphenol a:

data source: cera/acmi

price: last week, the domestic bisphenol a market continued to rise. As of April 9, the reference price of bisphenol A in East China was around 29500 yuan/ton, up about 2000 yuan/ton from last week, and the market focus was close to the threshold coating of 30000 yuan

the phenol ketone market fluctuated at a high level during the week, and the prices of acetone and phenol were basically the same as last week: the latest reference price of acetone market was 8300 yuan/ton; The latest reference price of phenol in the market is 8600 yuan/ton

at present, the impact of cost on the price of bisphenol A is very limited, and the market price is mainly regulated by market supply and demand. From the supply side, the current tense situation of bisphenol A in stock is difficult to ease, and the news of shutdown and maintenance of Lihua yiweiyuan bisphenol a device came out this week, which further exacerbated the market sentiment of price support

price change of bisphenol A in one week (yuan/ton)

region

April 2

April 9

rise and fall

Huangshan in East China

+2000

Shandong in North China

+2000

device situation: two sets of bisphenol A devices of Lihua yiweiyuan will be maintained in turn from April 7, and it is expected that each set will last for days; Sinopec Mitsubishi will stop for maintenance from April 10

epichlorohydrin:

data source: cera/acmi

price: the domestic epichlorohydrin market rose sharply last week. As of April 9, the price of epichlorohydrin in East China market was around 14500 yuan/ton, up about 1200 yuan/ton from last week

recently, epichlorohydrin factory price support sentiment is high, factory export orders increased, and the offer was mainly driven up. During the week, the main raw materials of the two routes rose and stabilized: the propylene market fluctuated sideways, and the latest reference price was 7900 yuan/ton, unchanged from last week; 95% glycerol Market in East China is on the rise, with the latest reference price of 7200 yuan/ton, up from +300 yuan/ton last week

device condition: the whole is normal, and the beam part of the electronic universal testing machine cannot be moved for operation. The operating rate of the industry is about 50%

epoxy resin:

data source: cera/acmi

price: last week, domestic epoxy resin continued to push up, with a large range. As of April 9, the negotiated price of liquid resin in East China was around 39000 yuan/ton, up 3500 yuan/ton a week; The negotiated price of solid epoxy resin is around 32000 yuan/ton, with an increase of 4000 yuan/ton a week

during the week, the market supply of bisphenol A, the main raw material, remained tight, the price continued to rise, and epichlorohydrin also continued to rise, with a gradually increasing range. The support of the two major raw materials on the cost side is obvious, and the resin factories mostly followed the raw material level to push up during the week. In addition, the environmental protection and production restriction of solid resin and the increase of export orders of liquid resin are also the reasons for the upsurge of market price support sentiment

what the market can predict is that the high price market of epoxy resin and bisphenol A will still exist in the short term: many large bisphenol A factories at home and abroad have maintenance plans in January, and the tense situation of bisphenol a spot cannot be effectively alleviated. The production of epoxy resin in Europe and the United States is expected to recover gradually after June, and the domestic export of epoxy resin will remain in the short term

40000 will be the end of this wave of high price market? At the meeting of epoxy resin backbone enterprises, most enterprise leaders expressed their concerns about the "disordered" state of the current market:

on the one hand, the epoxy resin market is very good and profitable, and the capital intervention will greatly increase the epoxy resin production capacity. From the ordering situation of the "2020 annual report of the epoxy resin industry" released by us, at present, many enterprises are investigating the market and preparing to enter the epoxy resin market

on the other hand, the downstream's acceptance of high prices. At present, although the downstream is miserable, there are also production reductions, but the overall balance is still delicate. If the market continues to rise, the cost cannot be "transferred" to the downstream, and the balance is broken, downstream users will be forced to choose epoxy substitutes, which is particularly detrimental to the sustainable development of the epoxy resin industry

device: the liquid resin basically operates normally, and the operating rate is about 80%; The operating rate of solid epoxy resin continues to be low due to the impact of environmental supervision

III. price reference last week

the prices of domestic E-51 and E-12 epoxy resins last week are as follows for reference only

reference price of domestic E-51 liquid resin (yuan/ton)

manufacturer

reference price

device

remarks

and the axle load of 10000 ton heavy haul train increases by 10000

Kunshan South Asia

39000 normal operation order is the main order

Yangnong Jinhu

38000 normal operation order is the main order

Changchun chemical industry

no quotation for the time being

normal operation negotiation Nantong Xingchen

39000

smooth operation of orders is the main thing. Jinan Tianmao

no quotation for the time being. If the load is full, talk about

Baling Petrochemical

38500

normal operation, real order negotiation, Jiangsu Sanmu

38000 stable operation, mainly orders, Zhuhai Hongchang

39000

load, 80% orders

therefore, the protection of oil pumps is relatively important in ordinary times, and the domestic private enterprise with a smaller reference price of E-12 solid resin (yuan/ton)

manufacturer

reference price

device

remarks

Huangshan Yongli

31800 normal operation real order negotiation

Huangshan Hengyuan

30000

normal operation

real order negotiation Huangshan Fifth Ring

no quotation for the moment. Load 31% single talk about Huangshan Hengtai

32500

normal operation real order negotiation Huangshan Hengliang

31500 load 30% real order negotiation Huangshan Jinfeng

30000

Load 30% real order negotiation Huangshan Tianma

31000

real order negotiation for normal operation

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