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 10000Kunshan 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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