After a significant increase in the epoxy resin market in September, it slightly weakened at the end of the month. The fluctuation of raw material ECH within the month is limited, but the cost of bisphenol A is driving up, and the price has increased significantly driven by the continuous strengthening of the upstream crude oil pure benzene phenol ketone industry chain, breaking through the high point of over 12000 yuan/ton, reaching the highest level since the fourth quarter of last year. In the second half of the month, the price of phenol ketone decreased slightly, and the demand for downstream stocking before the holiday was less than expected. As a result, the profit making shipment of holders led to a downward trend in the price of bisphenol A. The resin market has sufficient supply, and cost pricing is the main theme. During the month, the epoxy resin market mainly changed with bisphenol A, and market participants are mostly bearish about the post holiday market.

Raw material situation:

BPA: In September, multiple large units of bisphenol A were shut down in China, resulting in a tight market supply and a continuous strengthening of the cost of bisphenol A. As a result, the market for bisphenol A increased significantly during the month, but declined slightly in the latter half of the month; In September, Wanhua Chemical and Zhejiang Petrochemical carried out Phase II maintenance. After the Ruiheng Phase II was put into operation in October, it gradually stabilized. Wanhua Chemical and Luxi are expected to restart. In addition, Hengli Petrochemical and Qingdao Bay also have production plans. In October, the domestic supply of bisphenol A decreased significantly ECH: After a narrow rise in ECH in September, it immediately became stagnant until the end of the month. The fluctuation of ECH cost during the month was limited, and downstream epoxy resin factories mainly purchased raw materials with small orders in demand, which could not be supported. Although the factories had a strong desire to increase, the actual order prices were difficult to rise.

Device situation: In early September, multiple maintenance devices have been restarted, and the load of the new device, Tongling Hengtai, has increased to normal levels. After the restart of Ningbo Huanyang, the load was low and it was shut down again at the end of the month. Other liquid devices are basically normal, especially the load of the old factory is high. The overall operating rate of liquid resin is over 70%, while the overall operating rate of solid resin is between 50-60%.

Downstream situation: The demand for epoxy resin in September has significantly increased compared to August, and downstream wind power and electronics industries are gradually increasing in volume.