The Epoxy Resin Market Begins to 'Rise Up'

International crude oil easily broke through the $110/barrel mark this week, and the rise has not stopped, becoming the biggest variable affecting the chemical industry at present. The stock market, which is a market barometer, responded quickly. The crude oil sector rose sharply across the board, and the oil sector, oil and gas exploration and service sectors rose across the board.

Products with relatively recent free raw materials on epoxy resins are on the rise this week: the phenol market has stopped falling this week and has risen slightly, acetone and propylene have risen by 400-500 CNY/ton this week, and the price of refined glycerin has reached nearly this week. The high price of 14,000 CNY/ton.

The price increase logic of glycerin is slightly different from that of other raw materials: in addition to market factors, palm oil and crude oil, the raw materials of glycerol, belong to the relationship of substitutes. The surge in crude oil makes biodiesel more attractive. As one of the main raw materials for the production of biodiesel, the price of palm oil has risen, which is further transmitted to the glycerol-epichlorohydrin industry chain.

The high level of crude oil is also supporting the mentality of chemical market participants. After a deep drop for nearly a month, the price of epoxy resin began to rise slightly today.

In terms of raw materials: On the morning of March 4, the price of bisphenol A rose slightly, with a reference price of 16,800-17,000 CNY/ton; epichlorohydrin stopped falling, with a reference price of 17,800-17,900 CNY/ton.

With the stabilization of raw materials and the replenishment of some downstream products, the price of epoxy resin has risen by several hundred yuan compared with yesterday, but there is no obvious sign of a rebound in the market. The latest reference price of liquid epoxy resin is around 27,000 CNY/ton, and the reference price of solid epoxy resin is around 23,300 CNY/ton. The quotations of mainstream factories have not changed significantly for the time being, and we should wait and see the trend of raw materials:

About 50% of Kunshan Nanya's 248,000-ton/year plant is running, and epoxy resin E-51 is quoted at 28,000 CNY/ton barrels before leaving the factory;

Changchun Chemical's 100,000 tons/year installation load is about 70%, and the price of epoxy resin E-51 is 27,700 CNY/ton barrels.

70% of Yangnong Kumho’s 170,000-ton/year plant is in operation, and the new order for epoxy resin E-51 is 27,200 CNY/ton barrels and leaves the factory;

Nantong Xingchen's 160,000 tons/year installation load is about 70%, and the new order of epoxy resin E-51 is 27,000 CNY/ton of purified water to leave the factory;
Jiangsu Sanmu's 200,000-ton/year plant is in normal operation, and the new order for epoxy resin E-51 is 26,700 CNY/ton to leave the factory. The actual order can be negotiated;

The 155,000-ton/year plant of Hongchang Electronics is in normal operation, and the new order of epoxy resin E-51 is 27,500 CNY/ton and delivered in barrels;

The 140,000-ton plant of Baling Petrochemical is in normal operation, and the new order for epoxy resin E-51 is 27,000 CNY/ton of purified water.