Morning Market Insight: Epichlorohydrin

I. Key Highlights

1. East China 99.5% glycerin continued its weak downward trend, with prices hovering around 8,650–8,800 CNY/ton (delivered).
2. ECH prices remained stable within a range, with Jiangsu market prices centered at 11,000–11,050 CNY/ton (accepted bills of lading, delivered).
3. Cost support remains in place, but demand has shown no improvement; epoxy resin prices have been largely steady.

Core Logic: Cost pressures persist and profit margins are shrinking, reducing sellers' willingness to lower prices. Meanwhile, downstream participation driven by rigid demand for small orders has increased slightly, leading to a modest improvement in trading sentiment.

Notes:

1. The two price periods refer to point-in-time 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. Unit: CNY/ton.