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SunSirs: BPA Market Rose Again After the Factory Raised Its Listing Price

May 28 2020 14:53:05     SunSirs (John)

Recently, the market of bisphenol A continued to rise. According to the monitoring of SunSirs, the market offer was 8,800 RMB/ton on May 5, 9,960 RMB/ton on May 22, 10,600 RMB/ton on May 27, up 6.43% in three working days this week, and up 20.45% in May. From the cost support to the factory assistance in the bisphenol A market, the current market information was full, and traders' offers continued to boost sentiment.

Recently, bisphenol A factories have significantly increased their listing prices in response to market demand, which has boosted the rapid rise of the bisphenol A market. 

Before May 20, major mainstream factories maintained a long-term listing guidance price of 9,500-10,000 RMB/ton, and most enterprises listed below 10,000 RMB/ton. In May, with the market gradually rising, when the market is close to 10,000 RMB/ton, the market continues to be weak in action. At this time, each major factory has increased 500-700 RMB/ton, and the market confidence has been boosted. The traders are reluctant to sell, following the pace of the factory, and the offer has been greatly boosted. As of press time, the mainstream offer in the East China market was 10,600-10,700 RMB/ton, and the supply of some holders was less bullish. The market offer was as high as 10,900-11,000 RMB/ton, and the northern China market offer was 10,300-10,600 RMB/ton, many Traders have scarce supply, and the factory is mainly for their own use or supplying long-term customers, and the factory picks up goods slowly, with less market circulation.

Another important reason for the sharp rise in the bisphenol A market comes from the upward concentration of upstream pure benzene today which is a positive stimulus to the products under the industry chain. On the 27th, the price of pure benzene of Sinopec's companies was raised by 150 RMB/ton to 3,500 RMB/ton, and the price of pure benzene was 3,450-3,850 RMB/ton. In May, overall, pure benzene showed a unilateral upward trend, according to the monitoring of SunSirs, pure benzene rose from 2,960 RMB/ton on the 5th to 3,570 RMB/ton on the 27th, an overall increase of 20.61%.

In addition, from a cost perspective, acetone skyrocketing also forms a favorable support for bisphenol A. Taking the acetone market in East China as an example, the acetone market in East China was quoted at 7,900 RMB/ton last week, 8,100 RMB/ton at the beginning of this week, and 8,500 RMB/ton on the 27th. In just one week, the market in East China rose 600 RMB/ton, an increase of 7.6%, the consumption rate of acetone in the production unit of bisphenol A accounted for 0.27, and the current acetone market is at a historical high of three years, forming a cost support for the upward trend of bisphenol A. The price of phenol, another important raw material, has recently remained stable and the offer is mostly at 6,570-6,650 RMB/ton, which is a narrow increase from the beginning of the month.

Finally, the downstream liquid epoxy resin and PC showed an upward trend. The overall downstream liquid epoxy resin is operating at a high level, the terminal wind power industry is developing well, and the company's operating rate is gradually increasing, while the other raw material of epoxy resin, epichlorohydrin, has stopped falling and rebounded. Both raw materials are on the rise. The mainstream negotiation in the epoxy resin market runs at a high level of 19,500-20,000 RMB/ton. In terms of PC, according to the monitoring of SunSirs, it rose from 13,100 RMB/ton to 13,700 RMB/ton on the 5th, an increase of 13.22%.

From the perspective of the entire industrial chain, crude oil-pure benzene/propylene-phenol/acetone-bisphenol A-epoxy resin/PC, from top to bottom are generally rising. The upswing of crude oil boosted the upstream pure benzene and propylene, the main raw material phenol was stable at a high level and acetone skyrocketed. In the last few trading days of this month, the holders may push up to the end, but the downstream firm follow-up is limited. SunSirs expects the bisphenol A market in East China to be 10,600-10,900 RMB/ton, and will pay attention to the actual trading volume in the later period.


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