Price trend
According to the data of SunSirs’bulk list, as of March 9th, the average price of ECH companies was 11,866.67 RMB/ton, an increase of 5.01% compared with the price at the beginning of the month, and an increase of 8.87% compared with that on February 9. Compared with January 1st, it was down 5.07%.
Analysis review
The market price of ECH has risen since the beginning of March. At present, the price of raw material propylene has risen, and the cost support for ECH has been strengthened. The mentality of supporting high prices in the market has appeared. The focus of market discussions has shifted upward, but the downstream purchase just in demand, and the market sentiment is deadlocked.
Upstream propylene, as of March 8, the market price of propylene in Shandong rebounded significantly. According to the price chart of SunSirs, due to the influence of upstream and downstream, the price of propylene rose repeatedly in the second half of February and was at a multi-year high. At the end of February and the beginning of March, the price began to decline. On the 9th, the price generally rebounded, rising by 100~ 150 RMB/ton, the market transaction was between 8,350-8,650 RMB/ton, and the mainstream price was about 8,350 RMB/ton.
Downstream epoxy resin, as of March 8, the price of epoxy resin was consolidating in the high range. The raw material bisphenol A stopped falling and rebounded, and cost support was strengthened, supporting the mentality of manufacturers, but the downstream was cautious about high prices and maintaining just replenishment. The negotiated price of East China liquid epoxy resin was 31,000-32,000 RMB/ton.
Market outlook
The ECH analyst of SunSirs believes that the current holders have a push up sentiment. The downstream just needs to purchase mainly. The inquiries are slightly general, but supported by the high price of raw materials, it is expected that the ECH market may stand up in the short term, more need to pay attention to market news guidance.
