Daily Review of BPA: The market is still tired

[China Epoxy Network (China Epoxy Industry Online) www.
epoxy-e.
cn] March 16, 2010: The domestic bisphenol A market is still sluggish and the downward trend is still going on.
On the last trading day (March 15), the mainstream transaction price in East China in the mainstream market began to enter the range of 13,800-14,000 yuan/ton, and the low-end was reduced by 100 yuan/ton and the high-end by 200 yuan/ton.
According to analysis by market experts from China Epoxy Industry Association (www.
epoxy-e.
cn), the market was calm on that day and prices fell slightly.
The quotation was already at the level of the previous transaction, and the negotiation basically stopped at 14,000 yuan/ton.
There are not many wait-and-see and substantive discussions as a whole.
At present, the long-term and short-term factors of the market are intertwined, and the short-term sideways views are mostly; the market trading atmosphere is flat, downstream on-demand purchases, the pace of shipments are flat, and the recent trends of related products are paying more attention.
Recently, the spot of bisphenol A has fluctuated and weakened.
The related product epichlorohydrin has fallen sharply, which has caused the delay in starting downstream operations.
At the same time, the direct raw material phenol ketone market has weakened, which has become the main incentive for the weakening of the bisphenol A atmosphere; however, due to high oil prices, Asia's pure benzene talks have risen again-above US$920/ton (FOB Korea).
During the week, pay close attention to the trend of bisphenol A's external market and downstream purchases, cost support, and narrow market fluctuations are expected.
Domestic bisphenol A manufacturers' quotations are maintained, the market is limited, the spot price is lowered, and there are many wait-and-sees.
The market sentiment is transformed and the start-up is still limited; Bayer Shanghai's 100,000+110,000 tons/year installation load is 30%, and Sinopec Mitsui's 120,000 tons/year installation is operating normally , Started at full load, Wuxi Resin's 25,000-ton/year plant resumed operation and the load was average, and Zhongxin Chemical's 25,000-ton/year plant was running smoothly.

    On the last trading day (March 15), the domestic bisphenol A market raw materials fell and the support was weaker.
Although oil prices and pure benzene rebounded and the mentality was slightly better, the raw material phenol manufacturers adjusted downwards to make up for the decline, coupled with the impact of some low-priced sources, The wait-and-see situation has intensified, the focus of negotiations has dropped slightly, and some low prices have also been heard.
The decline of related products, epichlorohydrin, has increased, further suppressing the downstream sector and making the shipment of bisphenol A passive.
In view of the high oil prices and the high prices of pure benzene in Europe and the United States, and the high intraday volatility of pure benzene in Asia, the spot market atmosphere has improved slightly; the direct raw material phenol ketone has fallen further.
Among them, the spot price of phenol has been falling.
Adequate supply and weak downstream demand have become the common crux of phenol ketones.
The national CPI and PPI data were released.
Among them, the 2.
7% increase of CPI exceeded expectations and the market interest rate hike expectations were intensified.
The bulk of commodities had plunged, market risk appetite shifted, and the commodity market might be turbulent and consolidate.
At present, BPA has been hit by a double impact, and some merchants have increased their willingness to ship.
Although sellers have different short-term opinions, signs of market weakness have been shown; the external market of BPA has been stalemate, the raw material phenol ketone has intensified, and related products have deepened consolidation, long and short There is no shortage of intertwined and spot volatility.

    The offer range is wide and actual negotiations are maintained.
The downstream epoxy resin production and sales are not smooth.
At present, inventory is mainly digested and raw materials are purchased cautiously.
Some intermediate merchants have slightly lower inquiries and intentions, and the pace of market volume increase is slow.
The overall raw material market has weakened.
Among them, the upstream pure benzene fluctuates within a narrow range, and the spot inquiry intention has increased, mainly due to the recent external market callback and high oil prices; the phenol spot market is weak and fluctuated, and the factory price has begun to fall to make up for the decline; acetone spot negotiation The center of gravity continues to drop, and domestic manufacturers continue to lower.
In the stalemate in the downstream epoxy resin market, raw materials have repeatedly fallen or stalemate, and the future trend will be affected to a certain extent.
At present, sales are not smooth and prices are uneven.
The overall start of construction is still half, and prices continue to decline.
According to market experts from China Epoxy-e.
cn, the mainstream quotation in East China is 14000-14200 yuan/ton, the mainstream transaction price is 13800-14000 yuan/ton, and the price is lowered by 300 yuan/ton.
Lower-end prices are lowered by 100 yuan/ton/high-end prices are lowered by 200 yuan/ton; mainstream quotations in Huangshan area are lowered by 14100-14300 yuan/ton, low-end prices are lowered by 200 yuan/ton/high-end prices are lowered by 300 yuan/ton, mainstream transaction prices are 14000-14100 yuan/ton , Lowered by 100 yuan/ton; mainstream quotations in North China 14100-14300 yuan/ton, low-end lowered 200 yuan/ton/high-end lowered 300 yuan/ton, mainstream transaction price 14000-14100 yuan/ton, lowered 100 yuan/ton; South China The regional mainstream quotations are 14500-14700 yuan/ton, lowered by 300 yuan/ton, mainstream transaction prices are lowered by 14300-14500 yuan/ton, low-end prices are lowered by 100 yuan/ton/high-end prices are lowered by 200 yuan/ton.

    Recently, the spot of bisphenol A fluctuated within a narrow range, the related product epichlorohydrin plummeted, coupled with the direct raw material phenol ketone market fell, the downstream application areas were mostly wait and see, and bisphenol A external disk negotiations fell into a deadlock.
Last week, intermediary merchants reselled 500 tons of March cargo at a price of US$1,660/ton (CFR China's main port); another 500 tons of bonded cargo was sold at a price of US$1680/ton (CFR China's main port).
There are few firm offers for ocean-going cargo.
Asia’s major offshore production and supply merchants, in view of the good demand for major downstream polycarbonate and the low production and sales pressure, rely on support and actively support the market.
Last week, Asia's pure benzene rebounded sharply, and the market was concerned about its subsequent performance.
However, foreign trading was ultimately light.
Despite the support of raw material pure benzene oil prices and a correction of 900 US dollars per ton (FOB), the direct raw material phenol ketones fell sharply, coupled with the slow demand for epoxy resins, and the overall market buying intentions fell.
Cargo offers are offered at US$1680-1720/ton (CFR China's main port), and some buying intentions are US$1620-1650/ton (CFR China's main port).
The market is more to wait and see, and the transaction is less heard.
The other downstream polycarbonate market is good, and ocean-going cargo offers are scarce, resulting in a decrease in export volume.
Regional manufacturers are also supported by the advent of equipment repairs and less supply.
There has been no significant price cut to cater to China's spot market intentions.
According to market experts from China Epoxy Industry Association (www.
epoxy-e.
cn), two 260,000-ton/year devices of LG Chemical Yeosu of South Korea will be shut down for routine annual maintenance on March 10 and will resume at the end of the month; Zhuo Chuang Information Zhang Wei edited: 2010-3 Mitsui Chemicals Chiba 90,000 tons/year equipment maintenance ahead of schedule-shut down from March 20th to May 11th.

(Our reporter Xingchen)

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