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SunSirs: Both Upstream and Downstream Were Negative, Bisphenol A Market Fell under Pressure

July 16 2020 15:31:03     SunSirs (John)

Price trend

The bisphenol A market continued to decline, falling 10% in three working days this week. As of the 15th, the bisphenol A market in East China was quoted at 8,700-8,800 RMB/ton, and the bisphenol A market in North China was quoted at 8,750-8,800 RMB/tonne. At present, the raw materials phenol and acetone continue to decline, and the market turnover is obviously insufficient. In July, the market is difficult to say good, the cost is negative, and the downward trend of the negotiation center is difficult to change.

Analysis review

From the perspective of raw materials, the phenol/acetone market continued to fall under pressure during the week. As of the 15th, the phenol market in East China offered 5,450-5,550 RMB/ton. From the supply side, the short-term supply is sufficient. At present, domestic mainstream manufacturers are operating at full capacity (except for the shutdown maintenance of the Sinopec Mitsui Plant), and the port is expected to have nearly 10,000 tons of phenol arriving in the port in late July. Overall, the phenol market has sufficient supply. The recent bidding intentions on the floor are low and the center of gravity is further down. The current phenol market is difficult to say good. The market downturn is difficult to change in July. The mentality of the carrier is under pressure. The phenol market in East China is expected to run weakly. , The negotiation range may be 5,300-5,400 RMB/ton.

The raw material acetone continued to dive downwards. As of the 15th, the acetone market in East China was negotiated at 7,900-8,000 RMB/ton. The short-term market supply pressure is not large. However, in the port, nearly 15,000 tons of acetone arrived at the port in the middle and late July. The supply of goods is sufficient; the enthusiasm for replenishment of terminal factories is not high, and customers just need to deposit some high-level mid- and long-term futures acetone. The market situation is hard to say good. The business community expects the acetone market to decline in July.

The downstream liquid epoxy resin is in a downturn. The reference price of the liquid epoxy resin market is 16,500-17,000 RMB/ton, the negotiated price of solid epoxy resin is 13,000 RMB/ton, and the overall epoxy resin price this week is down 1,000 RMB/ton. The continuous decline of dual raw materials imposes greater market confidence on the resin industry. The market turnover is general, the development of terminal wind power industry is general, and the overall operating rate of enterprises is running smoothly. The short-term downturn in the epoxy resin industry is difficult to change, the market only needs to follow up, and trading needs to be improved.

Market outlook

From the perspective of the business community, on the one hand, it is subject to the sluggish end-demand market, resin orders are limited, the bearers have a serious bearish mentality, and the market's center of gravity is constantly frustrated. On the other hand, the raw material market continues to decline, and in the short term, the raw material side still follows the main behavior. The upstream and downstream of the industrial chain are full of bearishness. The market mentality is seriously frustrated. SunSirs expects the short-term bisphenol A market to continue to decline. The East China market quoted reference at 8,600 -8,800 RMB/ton.

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