Price trend
According to the data of SunSirs’bulk list, as of June 24, the average companies price of ECH was 13,033.33 RMB/ton, a decrease of 0.76% compared with the previous trading day, and a decrease of 1.26% compared with the price at the beginning of the month. Compared with May 24, it was revised down by 6.24%.
Analysis review
Recently, the market offer of ECH was consolidating, and the price was stable and weak on the 24th. The pressure on the production cost of the glycerin method was not reduced recently, and the low-price shipments in the market were limited, and most of the merchants offered stable prices; but the downstream buying sentiment was general, only purchased just on demand, the demand side performance was not good, and the holders had certain shipping pressure. The overall market trading was slightly weak, and the focus of negotiations fell.
Upstream propylene, on June 23, the price of propylene in the Shandong region stopped falling and temporarily stabilized. According to the monitoring data of SunSirs, in June, the domestic propylene market fluctuated and declined. On the 23rd, the low-end price rose by about 50 RMB/ton and the market transaction reached around 7,600-7,800 RMB/ton, the mainstream price was around 7,800 RMB/ton. The current market transactions are stable, downstream purchase on-demand and the performance is average, which has limited support for propylene.
Downstream epoxy resin, the epoxy resin market was weakly adjusted and operated on June 23, the price of raw material bisphenol A fell, the cost support was insufficient, the manufacturers' shipments were under pressure, the market sentiment was not good, and the market mentality was more cautious and wait-and-see.
Market outlook
The ECH analysts of SunSirs believe that, on the whole, the current poor performance of the downstream epoxy resin market is dragging the market mentality. It is expected that the ECH market will have a slight downward adjustment in the short term, and more attention should be paid to market news guidance.
