Cost-Demand Tug-of-War Drives Bisphenol A (BPA) Market into Range-Bound Volatility (Oct 8–10, 2026)

1. Weekly Market Highlights

① The average operating rate of the bisphenol A (BPA) industry this week was 70.21%, with BPA production increasing compared to the previous period.
② Raw material phenol and acetone markets surged significantly this week, driving up the average cost of BPA.
③ Operating loads for the two major downstream sectors showed diverging trends, with one rising and the other falling.

2. Weekly Market Analysis

Table: Comparison of Average Regional Market Prices for Domestic BPA (CNY/ton)

Data Source: Chempricehub Information

The domestic BPA market traded within a narrow range during this period. As of the closing on October 10, the mainstream negotiation reference price in the East China market stood at 11,200 CNY/ton, remaining stable compared to pre-holiday levels. Although raw material phenol prices surged significantly after the holiday, strengthening cost support, this did not effectively transmit to the BPA market. Downstream industries showed no intention for bulk stockpiling, maintaining cautious sentiment and focusing primarily on replenishing essential demand. Amidst the tug-of-war between costs and demand, suppliers faced limited operational flexibility, leading to increased wait-and-see attitudes. The overall market exhibited a stalemate characterized by "cost-driven price support versus demand-driven price pressure."

3. Analysis of Market Influencing Factors

1. Nantong Xingchen’s facilities are operating normally, Cangzhou Dahua is currently undergoing melting processes, and Wanhua Chemical has increased normal operations. These factors collectively contributed to an increase in BPA production.
2. This week, while the average BPA market price remained stable, costs rose sharply, resulting in a decline in profit margins.

4. Market Outlook

The BPA market is expected to experience minor fluctuations in the next period. Key focus areas include:

1. Supply: Production is still anticipated to grow, potentially increasing spot circulation volumes, though enterprise inventory pressure remains manageable.
2. Demand: Epoxy resin operating rates may rise, and polycarbonate (PC) operating rates will likely fluctuate at high levels; however, procurement of spot goods remains cautious.
3. Costs: There is still room for upward movement in the raw material phenol market, further strengthening overall cost support.
4. Sentiment: Caught between high costs and weak demand, holders maintain a cautiously optimistic view of the future. If costs continue to surge, it may prompt holders to firm up prices, but demand follow-through may be limited, leaving insufficient room for significant market volatility.

Table: Comparison of Average Regional Market Prices for Domestic BPA (CNY/ton)