Daily Review of BPA: Weakness and Weakness

[China Epoxy Network (China Epoxy Industry Online) www.
epoxy-e.
cn] December 9th, 2008: The domestic bisphenol A market is weak and weak, the mainstream market on the trading day (December 8) The mainstream transaction price in East China barely maintained 7700-7800 yuan/ton, and the high-end price was reduced by 100 yuan/ton, but the low-end was mainly low-end, and there was no shortage of downside possibilities.
According to analysis by market experts from the China Epoxy Industry Association (www.
epoxy-e.
cn), the market opened and operated weak that day.
Downstream users remained cautious and tentative inquiries, but the price intentions were generally low, and buyers and sellers were more on the sidelines.
, The transaction situation is not very clear, the quotation is still "worried" by 8,000 yuan / ton, and the transaction is long gone; the current bisphenol A market is obviously weakening, the downstream demand is weak, and imports are concentrated, which is further impacting the market.
The mentality has deteriorated significantly, and the shipments of merchants have obviously increased.
The transaction has been discounted by 500 yuan/ton last week, and it seems to be able to stop this week; second-hand merchants have limited operating space and leave the market on the sidelines.
The downstream end users lack clear judgment in the market outlook and worry about further decline.
The overall operation is still more cautious and wait-and-see.
International crude oil has reached US$40/barrel, and it is difficult to stop the decline.
It is difficult for bulk petrochemical products to make a difference in December, and there are many variables in the second dip of bisphenol A.
Entering this month, the depreciation of the renminbi has accelerated, and the ratio against the US dollar is around 6.
86:1.
This further increases import costs.
The current imports are involved in a loss vortex.
However, due to the overall surplus and oversupply of the international and domestic markets, and the limited output of domestic manufacturers, exports are also Can improve and make little progress.

    On the last trading day (December 8), the domestic BPA market weakened at a low level.
Merchants rarely offered active quotations and focused on-demand discussions.
The focus of negotiation levels continued to shift, and lower prices were also heard.
Recently, oil prices have increased sharply.
Decline, lack of market confidence, lower buyers' inquiries, mostly no more than 7,600 yuan/ton, strong stalemate and wait-and-see atmosphere, hardly any substantial improvement in downstream, weak demand, and thin transactions; weak market consolidation continues, and the market’s center of gravity falls, within a range The overall decline in the market and the narrowing of the price difference between different regions indicate that the market’s “vitality” is insufficient, the “flexibility” is recovered, consumer demand is flat, and buyers are more worried about the market outlook—there is still room for further decline, and merchants’ shipment intentions begin to increase slightly; Limited, international crude oil prices fluctuate at a low level, petrochemical product costs continue to fall, upstream raw material support is weak, and domestic trade itself is weak, suppressing market sentiment and deteriorating overall mentality.
According to market experts from the China Epoxy Industry Association ( www.
epoxy-e.
cn ), among them: the mainstream quotation in East China is 7800-8000 yuan/ton, the low-end price is reduced by 100 yuan/ton, and the mainstream transaction price is 7700-7800 yuan/ Tons, high-end prices are lowered by 100 yuan/ton; mainstream quotations in Huangshan area are 8000-8200 yuan/ton, low-end prices are lowered by 100 yuan/ton, mainstream transaction prices are 7800-8000 yuan/ton, and 100 yuan/ton main; mainstream quotations in North China are 8000 ～8200 yuan/ton, down 100 yuan/ton, mainstream transaction price 7800-8000 yuan/ton, down 100 yuan/ton; mainstream quotation in South China 8300-8500 yuan/ton, lower end down 100 yuan/ton, mainstream transaction price 8200～8300 yuan/ton, high-end cut by 100 yuan/ton.

    The bisphenol A external disk market weakened slightly.
Downstream major application areas, including epoxy resin and polycarbonate, have weak demand and extremely low load, and are in the squeeze of "two ends"-the domestic trade market declines, the top crude oil plummets, etc.
, series of negatives further suppress the market.
Importer talks quickly turned cautious, referring to the weakening transaction price, which is about 860-900 US dollars/ton (CFR China's main port), regional market suppliers continue their strategy-control the starting load and try their best to temporarily stabilize the quotation; last week, bisphenol A The external disk market declined slightly, with a drop of 10-20 US dollars/ton to 860-900 US dollars/ton (CFR China's main port), mainly due to the weak downstream demand and the continuous decline of the domestic market.
The mainstream regional market offered 900- US$930/ton (CFR China's main port), the international crude oil price plummeted, and domestic new installations were put into production.
The potential impact is even worse.
The market outlook is insufficient.
At present, large-scale end-user transactions have reached US$870/ton (CFR China's main port)— —Delivery in December/January.
According to market experts from the China Epoxy Industry Association (www.
epoxy-e.
cn), most domestic bisphenol A manufacturers continue to seal disks and shut down their installations.
The overall operating load is still low.
Each plant has downstream supporting facilities and external supply.
The scale is very limited, the raw material support is still weak, the cost factor is weak, the downstream demand is weak and difficult to change, and the shipment continues to be difficult to see good; the new plant-Sinopec Mitsui-the start-up is relatively smooth, but in view of the change in the supply of raw materials-Gaoqiao Caojing 20 The 10,000-ton/year phenolic ketone plant was shut down, and its discharging plan was officially postponed.
This is undoubtedly a big piece of good news for the weak spot market.

(Our reporter Xi Shu)

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