Bisphenol A: After 20 days of deep decline of nearly 10,000 yuan, it ushered in a rebound for the first time

After the National Day, BPA has entered a downward trend of sharp decline since the 13th after being supported by the cost side. The monitoring data of the business agency shows that on October 13, the offer of bisphenol A was 24,200 CNY/ton, and the offer of bisphenol A was 15,700 CNY/ton on November 3. In terms of annual trends, this time the decline was rapid and large. On November 4th, affected by the bidding of a petrochemical company in East China, the market should rebound for the first time. The starting price of the morning bid was 15500 CNY/ton. The industry was paying attention to the auction results. There were basically no offers in the market throughout the morning. As the auction continued, the market continued to intend. The offer is at RMB 16,400-16,800/ton, and the sixth round of auction in the afternoon is RMB 16,700/ton. The market intention price is already close to RMB 17,000/ton. After a round of sharp decline, the BPA market ushered in a sharp rebound for the first time.

Weekly bidding for a petrochemical company in East China (BPA product station on the public account of the Business Club announces the bidding price every week), which has a greater impact on the BPA market offer. According to the monitoring data of the business agency, after the National Day, the opening bidding price on the 9th ended at 22,100 CNY/ton, and the two rounds of bidding ended at 20,200 CNY/ton on October 20. The auction on October 26 fell to 19,500 CNY/ton. A heavy blow to the market. On November 1st, the auction price reached 17,200 CNY/ton, which was a big drop. The market went from bad to worse, falling to 15,700 CNY/ton in three days. On November 4, the auction started at 15,500 CNY/ton, and the sixth round of bidding was 16,700 CNY/ton, adding to the market. With a lot of confidence, today's market offers to RMB 16,500-17,000/ton.

The auction situation in September: The auction ended on September 1 to 27,800 CNY/ton, which was basically in line with market expectations at the time. In the second week, the auction reached 27,400 CNY/ton, a decrease of 400 CNY/ton from the previous month. Weekly performance was weak, and the demand for raw materials was dominated by rigid demand. The market's bearish atmosphere was heating up. By the end of the weekend, the offer was 27,500-27,700 CNY/ton. In the third week, the bidding reached RMB 26,500/ton, a decrease of RMB 900/ton from the previous month. This week, it was mainly due to the impact of the surge in ECH, which greatly inhibited the enthusiasm of epoxy resin for the purchase of bisphenol A products. The downstream also started under the influence of dual controls. The rate of decline, factories mostly consume inventory. In the fourth week, the bidding reached 24,600 CNY/ton, and the downward trend was magnified again, intensifying the bearish atmosphere in the market. As of Friday's closing, the market was quoted at 24,000 CNY/ton.

In the downstream market, epoxy resin was affected by the decline of the bisphenol A market today, and factories continued to refrain from making offers, and the wait-and-see sentiment increased instead of following the market's sharp decline. According to the monitoring data of the business agency, the solid resin market in Shandong and Huangshan maintains a stable offer at 24,500-25,000 CNY/ton, and the East China liquid resin market maintains a stable offer at 30,000-30,500 CNY/ton in barrels. From the downstream PC side, the offer is relatively stable, the mainstream price is around 24,200 CNY/ton, the supply is normal, the logistics is smooth, and the device operating rate is stable.

　　
From the perspective of raw materials, the phenol market is operating weakly. This week, Sinopec North China reduced the price by 200 CNY/ton, and Sinopec East China lowered it by 150 CNY/ton. Today, the East China market offers a price of 9400-9450 CNY/ton, and the discussion atmosphere is calm. , Holders follow the market, terminal purchases are generally enthusiasm, and more just need to follow up. In terms of acetone, some factories continue to make up for the decline. From the market perspective, the fluctuations have been mixed. The current negotiated price is 6050-6150 CNY/ton, and the fundamentals have not changed much. Many downstream bids just need small orders to follow up, and market transactions need to be increased.

　　
Today, bisphenol A ushered in an upward trend, adding a lot of confidence to the sluggish market that continued to fall. In the afternoon, terminal and intermediary traders continued to make inquiries and moderately covered positions. The market’s activity also increased significantly. As each round of auctions continues to rise, While the holders' offer is higher, there are also situations of reluctance to sell, and some traders cover their offers. Tomorrow, pay attention to the downstream real-order procurement situation.