Morning Market Alert for Epichlorohydrin

I. Key Observations

1. East China 99.5% glycerin continued its weak, narrow downward trend, with delivered prices hovering around CNY 8,950–9,050/ton.
2. ECH prices declined, with Jiangsu market delivered (acceptance payment) prices centered around CNY 11,000–11,100/ton.
3. Cost support remains present but is weakening; shipments face pressure, leading to largely stable yet slightly fluctuating epoxy resin operations.

Core Logic: Cost support has loosened, compounded by limited downstream participation in the market. This has pressured ECH producers' shipments and intensified competitive pressure, resulting in price concessions for new orders and a dominance of small-lot transactions.

Notes:

1. The two periods refer to spot prices from the previous two working weeks prior to this week, not weekly averages.
2. The change rate represents the period-over-period percentage change.
3. Units are CNY/ton.