The downstream resists high costs, and the bisphenol A market goes down

Since September, bisphenol A has been in a state of sideways consolidation after rising. The price is high and the upward momentum is insufficient. The two sides of the transaction have gradually entered a stalemate. Yesterday the downstream was unable to absorb the high cost. The market was deserted and the market was very active. Low, the pressure of holders has increased significantly, mainstream negotiations in East China fell 400-600 CNY/ton to 27,700-27,900 CNY/ton, and downstream bids were on the low end. According to the monitoring data of the business agency, the average offer in the East China market was 28,160 CNY/ton on September 1, and the offer in the East China market fell to 27,780 CNY/ton on September 8. The trend of the bisphenol A market in East China can be seen from the figure below. , The decline was significant this week, with an overall decline of 1.35% since September.

In terms of factories, Lihua Yiweiyuan and Nantong Xingchen started operations at 80%, Sinopec Mitsubishi, Changchun Chemical and other bisphenol A plants are operating at full capacity. In mid-September, Changchun Chemical’s 270,000 tons of plants are scheduled to be overhauled for 45 days, and the market spot supply is expected to shrink. At present, the supply chain for equipment maintenance in South Korea and Taiwan is expected to decrease, and the supply chain for imports will also be reduced. At present, the willingness of the holders to make a substantial profit on shipments is not strong. The domestic factories currently mainly produce contracts and suspend their offers. Li Huayi Weiyuan guides the price at 27,900 CNY/ton.

From the perspective of raw materials, the phenol market has risen in a narrow range. According to the monitoring data of the business agency, the national market on September 1st was offered at 9225 CNY/ton, and on September 8th it was offered at 9445 CNY/ton. The current mainstream offer in the East China market 9400 CNY/ton, Shandong and Yanshan surrounding areas are offered at 9400-9450 CNY/ton, and mainstream areas in southern China are offered at around 9500 CNY/ton. The willingness of short-term holders to hold prices has fallen sharply, and there is no intention to make profits, but downstream Participation is relatively cautious. The business community expects that phenol will run at a high level in the short-term. The East China negotiation reference is 9400-9450 CNY/ton.

Another raw material, acetone, has continued its upward trend since September. The negotiation reference is 6400-6500 CNY/ton. According to the monitoring data of the business agency, the acetone market in East China was offered at 6350 CNY/ton on September 1. The market offer was 6462 CNY/ton, an overall increase of 1.77%. As of now, acetone is offered at 6450 CNY/ton in East China, 6350-6450 CNY/ton in Shandong and Yanshan, and 6800-6900 CNY/ton in South China. Between tons.

The downstream demand for liquid epoxy resin is not good and the raw materials are loosened. The market decline is obvious and the biggest downside is around 1,000 CNY/ton. Up to now, the mainstream talks in East China are at 34,500-34,800 CNY/ton in barrels. The industry is on the verge of loss. In the face of difficulties in the downstream transfer of high-priced raw materials, the terminal has obviously resisted, and the market has been deserted. In addition, downstream PCs are won by high-priced raw materials, and downstream acceptance is limited. The operating rate of factories has dropped significantly and even some manufacturers have stopped. The current operating rate is less than 50%, and in the market, there are very few orders outside the contract.

According to the business community, at present, the cost is increasing and the pressure on downstream factories is increasing. Most factories just need to follow up. However, the current BPA spot resources are still tight, and the price of external disks is low. According to the current understanding, look at BPA from September to October. A. It is expected that there will be more overhaul devices, and the expected supply will remain tight in the future. From the external perspective, the bidding of a petrochemical company in East China will end at 27,400 CNY/ton, a decrease of 400 CNY/ton from last week. The business community expects short-term double The phenol A market is weak and fluctuating.