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SunSirs: ECH Market Prices Fell (January 12-19)
January 21 2021 14:03:28SunSirs(John)

Price trend

The market price of ECH has fallen recently. According to the data from SunSirs’ bulk list, as of January 19, the average price of ECH companies was 11,933.33 RMB/ton, which was 1.92% lower than last Tuesday (January 12) and a decrease of 2.72% compared with December 19, compared with the same period last year, it was a decrease of 16.16%.

Analysis review

Recently, the ECH market has been weak and the market supply is sufficient, but the demand is weak, the sales pressure of the holders has increased, the downstream procurement is weak, the downstream basically tends to purchase at low prices, and the price of ECH is dropping.

Upstream propylene, on January 19, the price of propylene in the Shandong area rose slightly across the board. According to the monitoring data of SunSirs, the price of propylene fell all the way at the end of December, and began to rise on New Year's Day. It was raised by about 100 RMB/ton on the 4th. The price on the 5th and 6th was mainly stable. Only a few companies increased slightly. Some prices fell on the 8th, and the later prices continued to stabilize. On the 14th, the price finally rose to around the 16th, and the price rose again on the 19th. The market transaction was between 7,450~7,650 RMB/ton, and the mainstream price reached 7,450 RMB/ton. Manufacturers had no pressure on inventory and sales were smooth.

Downstream epoxy resin, the epoxy resin market rose on January 19, raw material bisphenol A rose, cost support was strong, factory sales were temporarily no pressure, downstream just needed to follow up mainly, the market atmosphere was acceptable.

Market outlook

The ECH analyst of SunSirs believes that the current price of raw material propylene is rising, and there is some support from the cost side, but the market is still in a situation of oversupply. Holders are more actively selling goods. It is expected that in the short term, the ECH market may be weakened and consolidate. More attention needs to be paid to the downstream stocking before the holiday.

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