① During the holiday and upon market resumption afterward, epichlorohydrin (ECH) prices remained stable initially before declining.
② No units started or shut down during this period, so ECH supply remained unchanged.
③ Strong cost support persisted, but lack of demand support led to sideways consolidation in epoxy resin prices.
| Figure: Spot Price Trend of Domestic Epichlorohydrin Market (2025–2026) (CNY/ton) |
|---|
| Data Source: Chempricehub |
Table: Comparison of Domestic Epichlorohydrin Price Changes (Unit: CNY/ton)
| Region | Oct 1 – Oct 8 | Sep 25 – Sep 30 | Change | % Change |
|---|---|---|---|---|
| Shandong Market | 10,750 | 10,850 | -100 | -0.92% |
| Jiangsu Market | 11,050 | 11,150 | -100 | -0.90% |
| Huangshan Market | 11,050 | 11,250 | -200 | -1.78% |
Data Source: Chempricehub
This week, the domestic epichlorohydrin market followed a trend of stability followed by decline. The weekly average price in the Jiangsu market was 11,050 CNY/ton, down 0.9% week-on-week. As this period coincided with the National Day holiday, producers secured orders continuously before the break, resulting in no inventory pressure during the holiday. Most downstream users entered a holiday shutdown mode, and logistics were restricted, leading to a generally stable transition through the holiday. Upon market resumption after the holiday, the price of glycerol, the primary raw material, continued its pre-holiday downward trend, weakening the cost support from the glycerol-based process. Additionally, downstream users consumed existing inventories and adopted a cautious wait-and-see approach regarding new orders, showing low participation. Some enterprises also planned to offload inventory, causing the market negotiation center to shift lower. Although low-priced offers emerged in the market, downstream demand showed no improvement, resulting in an overall stalemate characterized mainly by sporadic small-volume transactions. As of October 8, the delivered acceptance bill price in the Jiangsu market ranged from 11,000 to 11,100 CNY/ton, a decrease of 0.9% compared to September 24.
Next week, the domestic epichlorohydrin market is expected to continue weak with narrow downward fluctuations. On the cost side, domestic glycerol prices are expected to maintain weak, narrow adjustments, further eroding the cost support from the glycerol-based process and exerting some bearish pressure on market sentiment. On the supply side, some units that had been shut down plan to restart next week, while others anticipate shutdowns; these factors will offset each other, leading to an expected slight increase in total market supply. On the demand side, as some restarted epoxy resin units gradually reach steady operation, epoxy resin supply is expected to increase, with consumption also rising month-on-month, potentially transmitting positive signals back to the raw material end. However, incremental terminal orders remain limited, and resin factories are primarily focused on clearing finished product inventories. This may intensify market competition, thereby imposing some bearish pressure on the epichlorohydrin market. Overall, the probability of weak performance in the epichlorohydrin market remains high, though changes in costs and supply-demand dynamics require close monitoring.
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