In September, bisphenol A, affected by the simultaneous rise of the upstream and downstream of the industrial chain and the tight supply of its own, showed a broad upward trend. In particular, the market rose nearly 1500 yuan/ton in three working days this week, which was significantly higher than expected. According to the monitoring data of the business community, the domestic market offer of bisphenol A was 13000 yuan/ton on September 1, and the market offer rose to 15450 yuan/ton on September 22, with a cumulative increase of 18.85% in September.

Double raw materials continued to rise in September, with a large increase. The cost of downstream bisphenol A was pressured upward.

The upstream dual raw material phenol/acetone rose continuously, with phenol increasing 14.45% and acetone increasing 16.6%. Under the pressure of cost, the listing price of bisphenol A factory was raised for many times, and the traders’ positive attitude also pushed up the offer.
The domestic phenol market continued to rise and fell slightly on the 21st, but it still had a strong supporting force for the downstream. In September, the phenol supply continued to be tight. According to statistics, the operating rate of domestic phenol plants was 75%, which was relatively low compared with the long-term probability of 95%. In the middle of the year, the tower washing and shutdown of the 650000 t/a phenol ketone plant in Phase I of Zhejiang Petrochemical Company stopped on the 6th day, and the shutdown was restarted for a week. In addition, the typhoon weather in East China affected the cargo ships and the arrival time in the middle of the year, It is difficult to replenish the source of imported goods, and the holders are reluctant to sell obviously. The offer has pushed up, and the focus of negotiation has also risen along the trend. As of September 21, the phenol market in East China had been

negotiated to 10750 yuan/ton, and the overall average price was 10887 yuan/ton, up 14.45% compared with the national average offer of 9512 yuan/ton on September 1.
Acetone, the raw material, also showed a wide range of rising trend, and fell slightly on the 21st, but still had strong support for the downstream. On September 21, the acetone market in East China was negotiated to 5450 yuan/ton, and the average price in the national market was 5640 yuan/ton, up 16.6% from the national average offer of 4837 yuan/ton on September 1. The continuous rise of acetone in September was mainly due to the reduction of its supply side and the increase of downstream export orders, which was a good support for raw materials. The operating rate of the domestic acetone industry was low. More importantly, the port inventory in East China in September reached a low level within the year. Last weekend, the statistics showed that the port inventory fell to 30000 tons, a new low since the beginning of the year. It is understood that at the end of this month, a small amount of goods will be

replenished. Although there is no pressure on the supply at present, and there is still an upward trend in the short term, it is worth paying attention to the maintenance of Mitsui until the end of this month. Bluestar Harbin is expected to restart on the 25th. In October, more attention should be paid to the commissioning of Yantai Wanhua 650000 t/a Phenol Ketone Plant.
The continuous rise of downstream products is good for the raw material market. The continuous rise of PC has obviously boosted the market, and the epoxy resin also broke through in the last ten days.
In September, the PC market continued to rise unilaterally, with spot prices of all brands rising. As of September 21, the PC reference offer of the business agency was 18316.7 yuan/ton, up or down by+6.18% compared with 17250 yuan/ton at the beginning of the month. During the month, the PC factory adjusted the price several times, and Zhejiang Petrochemical increased 1000 yuan weekly in several rounds of bidding, which significantly boosted the market. PC reached a high in the second half of the year. Downstream epoxy resin continues to be affected by raw materials bisphenol A and epichlorohydrin. Due to the mixed rise and fall of the two raw materials, the rise of epoxy resin in the first half of the year is not obvious. However, under the pressure of cost this week, the manufacturers of epoxy resin have been reluctant to sell obviously, with a strong price holding sentiment. Today, the offer of liquid resin in East China rose to 20000 yuan/ton.
The spot resources continue to be strained, the operating rate of industrial devices is low, traders are reluctant to sell goods, and the market is rising significantly under the continuous rise of factories.
Since September, bisphenol A has continued the momentum of last month, and the main manufacturers mainly supply long-term customers. The spot sales volume is limited, and the supply of imported goods is limited. The contract accounts for a large proportion. In September, the RMB continued to depreciate, and the dollar exchange rate was close to 7. The external market simultaneously promoted the importers to talk cautiously. In addition, due to the typhoon weather in mid month, the import shipment date was delayed to varying degrees.
In terms of units, during the shutdown and maintenance of Sinopec’s Mitsui unit, Huizhou Zhongxin stopped the unit until the 5th of the beginning of the month, and Yanhua Polycarbon resumed its restart on the 15th, but it seems that nearly 20000 tons of supply were lost in September. At present, the operating rate of the industry is around 70%. Under the condition that the supply side has remained tight since August, the factory has been constantly increasing due to the influence of raw materials. Under this circumstance, the goods holders are reluctant to sell obviously, and the low price is not available. After the factory makes a bid, the market usually offers at a higher price.
The spot goods are still tight, the downstream epoxy resin and PC are still rising, and the market is still profitable. There is still room compared with the year and the historical high. Recently, the domestic bisphenol A market is still in a tight state. The main supply contract users of the factory have no production and marketing pressure, but they are expected to continue to rise under the pressure of high raw material costs. The suppliers are reluctant to sell the products with firm offers, and there is still room for the downstream epoxy resin and PC to rise continuously, The business association expects to continue to explore the rise in the short term.

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