Today's market closed, BPA closed at about 26,000 yuan/ton, and ECH closed at about 13,800 yuan/ton, both of which were down from the previous trading day, both of which were down. This is a good thing.
Since the beginning of this month, epoxy resin has been hit by the repeated rises of Shuangyuan, and profits have been eroded seriously. According to statistics, the gross profit of BPA is as large as 15,000 yuan/ton, and the gross profit of ECH is also above 4,000 yuan/ton, while the gross profit of LER is only about 50% of ECH. Counting the low orders in the first half of the month, the loss of blood is too much and it is difficult to make up for the loss. .
Shuangyuan is weak, will the price of resin inevitably drop? I don't think this is necessary.
1. At present, the supply of BPA market is still insufficient. The current weakening is a rational adjustment. It is difficult to see signs of a sharp decline for the time being. Maybe it will make a comeback in the short term.
2. Last week, BPA soared from 26,000 yuan/ton to 27,000 yuan/ton in a single day, and the price of resin did not follow up. Therefore, the BPA was lowered by 1,000 yuan/ton in the past two trading days.
3. At present, most of the existing orders of the resin factory still have not been delivered, and the delivery is too tight, and there is no need for low-cost orders for the time being.
4. The demand for wind power in August and September has increased, and the market’s positive trend has strengthened, giving resin factories full confidence. The maintenance of price stability and upward adjustment may become the main theme in the second two months of Q3.
However, the main theme is to maintain stability and upward, which does not mean that there is no possibility of fine-tuning downward at a certain time. At present, many industries are in a downturn. Under the pressure of environmental protection, factories in many regions have stopped production frequently. Disasters such as floods and typhoons and the outbreak of the new crown epidemic have a greater impact on normal production. These unfavorable factors require resin factories to properly face and rationally resolve.
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