Morning Market Insight: Epoxy Resin

I. Key Points

1. Mediators continue to push for U.S.-Iran peace talks, slightly easing market concerns about supply risks; international oil prices fell. ICE Brent crude futures (December contract) closed at USD 115.81/bbl, down USD 0.91/bbl (-0.78% WoW).
2. Raw material BPA prices rose significantly, strengthening epoxy resin costs.
3. Insufficient new orders on the demand side limited the upward movement of epoxy resin market prices.

Core Logic: Rising raw material prices have increased overall epoxy resin costs. While downstream rigid demand persists and some plants raised their offer prices, limited order follow-through constrained the rise in the epoxy resin market center.

II. Price Table

Notes:

1. Prices in the table are in RMB, unit: CNY/t.
2. All RMB prices listed above include tax.
3. The two price columns represent spot prices from the previous two working days prior to this week.
4. "Change" refers to the Week-on-Week (WoW) fluctuation.
   Data Source: Chempricehub Information

III. Market Outlook

Raw material market prices are rising, while demand remains limited to rigid needs. Supported by cost pressures, some epoxy resin producers have increased their opening prices, but actual transaction follow-through is limited, constraining the rise in the market center. It is expected that raw materials may continue to see upward pressure, potentially increasing epoxy resin costs further. However, with weak demand, pushing up epoxy resin prices may face resistance. The market price is expected to trend steadily to slightly stronger. Caution is advised in operations.