The six-month uptrend of epoxy resin finally ushered in an "inflection point". On the 27th, liquid epoxy resin negotiations in East China went down. The offer was 38,500-39,000 yuan/ton, which fell below the 40,000 yuan/ton mark, and was adjusted downwards within the week. 2000 yuan/ton, a decrease of 5.19%. Since epichlorohydrin, the main upstream raw material of liquid epoxy resin, has dropped significantly, and the cost has been significantly reduced. According to the news, the shipment price of some liquid resin manufacturers has fallen to 37,000 yuan/ton.
Regarding solid epoxy resins, the Huangshan area offered a price of about 33,000 yuan/ton, which was reduced by about 2,000 yuan/ton within the week, a decline of 60.6%. In addition to the reason that the upstream raw materials bisphenol A and epichlorohydrin were lowered by more than 1,000 yuan/ton within a week, the main price reduction factor is that downstream customers are bearish. A solid resin company stated that the current price of epoxy resin is close to the "ceiling", and powder coating companies resist high prices and are focusing on formulating adjustments to replace epoxy resin products with pure polyester products. At present, resin shipments have decreased, and prices have also fallen. Industry insiders analyze that the price of solid epoxy resin may continue to fall in the near future, and is expected to fall to 24,000-25,000 yuan/ton.
According to the Coatings Purchasing Network, although the market rises and falls are normal, since the second half of last year, titanium dioxide, resin and other products have shown a frenzied price increase, which has made many people "daunt" high prices. It is inevitable that there is a dilemma in the “crazy buying” of the scarce supply. Epoxy resin took the lead in opening the "curtain" of price corrections, and there will be many raw materials that will take the opportunity to keep up with the pace, and prices will be corrected.
DMF fell 1,433.33 yuan/ton in a week, a decrease of 11.75%
On the 27th, DMF quoted at RMB 10,766.67/ton, down by RMB 1,433.33/ton in a week, or 11.75%. Shandong Hualu Hengsheng quoted RMB 10,700/ton. The domestic DMF market is weakly operating, the transaction atmosphere is average, the focus of negotiation is weak, and the just-needed purchase is the main focus.
Butadiene fell 868.34 yuan/ton in a week, a decrease of 11.59%
On the 27th, butadiene was quoted at 6623.33 yuan/ton, down 868.34 yuan/ton in a week, or 11.59%. The domestic butadiene market was mainly wait-and-see, and the downstream inquiries were not high. Before the holiday, some downstreams just need to cover up their positions, which will support the butadiene market; but the short-term domestic spot supply is still relatively abundant, and the downstream rubber industry chain market and inventory are under pressure, which will suppress the butadiene market to a certain extent. It is expected that the domestic butadiene market will be suppressed in the near future. The performance of the olefin market is relatively stalemate.
Epichlorohydrin fell by 1466.67 yuan/ton in a week, a decrease of 9%
On the 27th, epichlorohydrin was quoted at RMB 14,833.33/ton, a decrease of RMB 1,466.67/ton, or 9%. The domestic epichlorohydrin market fell, and the domestic epichlorohydrin market was weakly organized and operated. The market inquiry atmosphere was poor and the wait-and-see atmosphere was strong. The downstream is bearish on the market outlook, and the enthusiasm for operation is not high.
PBT fell 1,300 yuan/ton in a week, a decrease of 7.32%
On the 27th, PBT quoted at RMB 16,450/ton, a decrease of RMB 1,300/ton in a week, or 7.32%. At present, the domestic PBT market's center of gravity is falling. Kanghui Petrochemical KH2100 products fell 500 yuan/ton in 2 days; Wuxi Xingsheng XS101 products fell 1,200 yuan/ton in 2 days; Yizheng chemical fiber GX-1231 products fell 1,000 yuan/ton in 2 days.
BDO fell 1,800 yuan/ton in a week, a decrease of 6.67%
On the 27th, BDO quoted a price of 25,200 yuan/ton, down 1,800 yuan/ton in a week, or 6.67%. The domestic BDO market continues to be weak, with low bidding prices recently, and the wait-and-see atmosphere in the market continues to be strong. Manufacturers’ offers are mainly based on stability, and the spot market holders are under greater shipping pressure and are willing to ship. They continue to negotiate with narrow margins. Downstream contract purchases are the main focus, spot replenishment atmosphere is sluggish, and the starting load of some industries is low.
Ethylene glycol fell by RMB 267.5/ton in a week, a decrease of 5.23%
On the 27th, ethylene glycol was quoted at RMB 4842.5/ton, a decrease of RMB 267.5/ton in a week, or 5.23%. The supply and demand side of ethylene glycol is currently difficult to find a good advantage, and the center of gravity continues to move downward. From the perspective of the supply side, the installation and restart are parallel, and the medium-term supply side is under heavy pressure. The overhaul of Anhui Hongsifang’s 300,000-ton/year ethylene glycol plant has come to an end, and it is expected to restart this weekend. At the same time, the 1.8 million tons/year ethylene glycol of Satellite Petrochemical has been discharged and supplied to the market. The upstream ethylene of Zhejiang Petrochemical's 800,000-ton/year ethylene glycol plant has been discharged, and it is expected to supply ethylene glycol in May. From the demand side, domestic trade has entered the off-season, foreign trade orders have performed generally, and grey fabric inventories have continued to accumulate. The operating rate of looms in Jiangsu and Zhejiang has entered a downward channel. Under the inventory control of polyester factories, operating rates are expected to remain stable, around 90% run.
Bisphenol A fell 1176.67 yuan/ton in a week, a decrease of 3.95%
On the 27th, bisphenol A was quoted at 28,640 yuan/ton, down 1176.67 yuan/ton in a week, or 3.95%. Last week, the domestic bisphenol A market sentiment continued to decline. Before the price of bisphenol A rose to 30,000 yuan/ton, it caused strong resistance in the downstream, especially in the PC industry. After that, the center of gravity of the bisphenol A market peaked and then fell.
Dichloromethane fell 140 yuan/ton in a week, a drop of 3.89%
On the 27th, methylene chloride was quoted at 3460 yuan/ton, down 140 yuan/ton in a week, or 3.89%. The domestic dichloromethane market declined weakly, and the decline in Shandong was relatively large. This week, the overall methane chloride plant in Shandong has slightly improved. Jinling Dongying plant was overhauled at full load, Dongyue’s methane chloride plant was overhauled and started normally, Jinmao’s methane chloride plant was shutting down, and construction was started near 90% in Luxi. The downstream demand for methylene chloride was mainly weak, and the increase in stocking by merchants was not obvious. The overall inquiry was slightly light, and the support for methylene chloride was weak. The ex-factory price of methane chloride manufacturers was moderately lowered.
TDI fell 566.66 yuan/ton in a week, a decrease of 3.47%
On the 27th, TDI quoted 15766.67 yuan/ton, which was down 566.66 yuan/ton in a week, or 3.47%. Zhangjiagang Free Trade Zone Pan Asia International Trade Co., Ltd. TDI Shanghai quoted 15200 yuan/ton. The domestic market is operating weakly, the atmosphere in the market is deserted, and the market outlook is weak. For domestic goods with tickets, please refer to 14800-15000 yuan/ton, and for Shanghai goods with tickets, please refer to 15100-15300 yuan/ton. Real order negotiation.
Formic acid fell 66.66 yuan/ton in a week, a drop of 2.63%
On the 27th, formic acid was quoted at 2466.67 yuan/ton, a decrease of 66.66 yuan/ton in a week, or 2.63%. Liaocheng Jiaotong Group Hongmao Materials Co., Ltd. quoted 2,210 yuan/ton for formic acid, and Jinan Jinrihe Chemical Co., Ltd. quoted 2,300 yuan/ton for formic acid.
Ethanol fell 170 yuan/ton in a week, a drop of 2.50%
On the 27th, ethanol was quoted at 6,625 yuan/ton, down 170 yuan/ton in a week, or 2.5%. Shandong Fulaichun Biotechnology's cassava ethanol plant has a daily output of about 700 tons/day. The manufacturer said that the ex-factory price of general grade alcohol will be reduced to 6550 yuan/ton including tax, and the actual order can be negotiated. Jilin Dongfeng Hualiang’s 100,000-ton/year corn alcohol plant shuts down, and the general-grade alcohol report is lowered to 6,500 yuan/ton. The actual order can be discussed. Lianyungang Longhe's ethanol plant with an annual output of 320,000 tons/year is currently quoting 6,500 yuan/ton for general grade ethanol, which is actually negotiable.
Silicone fell 400 yuan/ton in a week, a drop of 1.41%
On the 27th, the price of organic silicon products was 27,933.33 yuan/ton, down 400 yuan/ton in a week, or 1.41%; compared with the beginning of the month, the average price was reduced by 1,300.34 yuan/ton, or 4.45%. From the current point of view, although silicone monomer plants have pre-order processing, the ability to increase new orders has been weakened. The continuous downward adjustment of silicone DMC prices by individual large manufacturers also affects the sentiment of downstream companies. At present, wait and see. increase.
Regarding the price pullback of some chemical products, market analysts said that although the downstream purchases of raw materials basically adhere to the attitude of "buying up and not buying down", the more they increase, the more they buy, the price increase will not end without end. Once it reaches an unacceptable high position downstream, there will definitely be downstream conflicts, and new orders will be light. If it is really impossible to reconcile, downstream customers will also adopt the method of changing formulas and finding cheap substitutes to alleviate them. Even if the performance of the substitutes is not good enough, they can also carry out turnover and emergency response in a short period of time. And after the pressure on the cost side is reduced, generally speaking, chemical companies will still be reflected in prices. Appropriate price reductions are also to build up strength and prepare for the next round of price increases. Otherwise, the string is too tight, which is extremely detrimental to the industry and market development. Downstream customers are bearish on the industry, and it is also not conducive to product sales and corporate reputation.
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