In November, the trend of epoxy resin market was weak, with weak downstream demand for resin. Manufacturers faced greater pressure to ship and fierce competition at low prices. Resin prices passively followed changes in raw material costs. In the first half of the month, the phenolic ketone market weakened, bisphenol A showed a significant decline, and the price of epichlorohydrin was also weak. The cost support for epoxy resin was significantly weakened, and the purchasing atmosphere for resin was also insufficient during the market downturn. Factory quotations gradually decreased with the raw materials, and the low price dropped to below 13000 yuan/ton. Downstream multi-dimensional purchases of essential goods and cautious purchases by traders have led to significant inventory pressure in factories. Several factories have lowered their inventories or shut down, resulting in a rebound in raw material prices in the latter half of the month. Factory quotations have been raised, but the increase in actual prices is still very limited.

Raw material situation:

① BPA: In November, two chemical production lines in Changchun resumed production, but units such as Luxi, Yanhua Polycarbon, Zhejiang Petrochemical, Ruiheng, and Cangzhou Dahua experienced varying durations of shutdowns, resulting in a reduction in overall BPA supply. In the first half of the month, international oil prices broke through and declined, with relatively sufficient supply of phenolic ketones and weakened prices. Bisphenol A manufacturers had insufficient new orders and prices continued to decline. In mid to late October, the inventory of phenol ketone ports was low, and multiple large phenol ketone plants in China were shut down. The spot supply of phenol ketone was tight, and prices rebounded. The cost support for bisphenol A was strong, and the extent of losses was also increasing. Manufacturers' price support sentiment intensified, and the focus of negotiations gradually shifted to over 10000 yuan.

② ECH: The overall news guidance for the ECH market in November is relatively low, with narrow price fluctuations within the range. During the month, facilities such as Dongying Liancheng, Hebei Jiaao, Ningbo Zhenyang, and Shandong Xinyue experienced varying durations of parking, and other facilities also had low loads. The overall operating load of ECH was relatively low. The downstream epoxy resin market is sluggish, with insufficient intention to purchase raw materials, maintaining demand for purchases, and the ECH market continues to be weak, with a slight increase in the latter half of the month.

Device situation: In November, the Huanyang plant was restarted but the load was relatively low. Changchun Changshu, South Asia, Hunan Petrochemical, and Yuanbang Wuzhong plants all experienced varying durations of shutdowns, while the load of other factories slightly decreased. The overall operating rate of liquid resin is 60-70%, while the overall operating rate of solid resin is around 60%.

Downstream situation: With the gradual decrease in temperature, outdoor industries such as wind power and flooring downstream of epoxy are affected, and the resin market continues to be sluggish. Traders and other downstream players are holding on to demand purchases.