Low Demand, Epoxy Resin Fell 5% YOY

Monitoring data shows that as of December 10, the reference price of liquid epoxy resin in East China was 25,600-26,200 CNY/ton; the reference price of solid epoxy resin was 21,000-21,500 CNY/ton. The recent decline has been significant, with a decline of 1,000 yuan since December.

From the perspective of raw materials, the dual raw materials fell first and then stabilized last week, and the overall cost of epoxy resin has limited changes. However, demand follow-up performance is weak, the market continues to stalemate and downturn, and the bad news is difficult to change.

In contrast, in the same period of December 2020, the price of bisphenol A was 19,500 CNY/ton (+3,500 yuan), and the price of ECH was 12,000 CNY/ton (-2,500 yuan). The overall production cost of epoxy resin was similar to the current one, but At present, the prices of liquid/solid epoxy resins are lower than those of the same period last year, which shows that the market is not what it used to be. The industries that have experienced a large year-on-year decline in demand are mainly wind power and electronic and electrical industries.

In terms of equipment: the overall operating rate of liquid resin is around 80%; the operating rate of solid resin is around 50%. The quotations of mainstream factories are as follows:

Kunshan Nanya's 248,000-ton/year plant is operating normally, and E-51 is quoted at 28,000 CNY/ton;

The Changshu Changchun 100,000 tons/year plant is operating at low load, and the current price of epoxy resin E-51 is 26,800 CNY/ton;

Fifty percent of the 170,000 tons/year installations of Yangnong Kumho are in operation, and the new order E-51 is quoted at 26,000 CNY/ton;

Nantong Xingchen's 160,000-ton/year plant is operating stably, and liquid epoxy resin E-51 is quoted at 26,000 CNY/ton;

Jiangsu Sanmu’s 200,000-ton/year plant is operating normally, and the new order is quoted at 26,000 CNY/ton, and the actual order is mainly negotiated;

The 155,000-ton/year plant of Hongchang Electronics Zhuhai Plant is operating normally, and the new order E-51 is reported to be 27,000 CNY/ton;

Baling Petrochemical's 90,000-ton/year liquid plant is operating normally, and E-51 is quoting 26,200 CNY/ton.