SunSirs: The Market Price of ECH Continued to Rise in October

https://www.chemnet.com   Oct 30,2024 SunSirs

Price trend

The market price of ECH continued to rise in October. Multiple production enterprises were undergoing equipment maintenance, resulting in tight market supply. Xinyue, Binhua and other facilities operated with reduced load. A leading enterprise had ceased production, and multiple companies had been affected by the suspension of trading and quoting. The decrease in supply had caused traders to push up market prices. According to the market analysis system of SunSirs, as of October 28th, the benchmark price of SunSirs' ECH was 8,725 RMB/ton, an increase of 9.75% compared to the beginning of this month (7,950 RMB/ton).

Analysis review

Price influencing factors:

Raw material side: Recently, the price of propylene in the market has fluctuated and risen. According to the market analysis system of SunSirs, as of October 28th, the benchmark price of propylene in SunSirs was 6,865.75 RMB/ton, an increase of 5.41% compared to the beginning of this month (6,513.25 RMB/ton).

Downstream demand side: The downstream epoxy resin market was running weakly, and the purchasing mentality was not positive, with rigid demand procurement being the main focus.

In terms of equipment: Jiangsu Haixing Chemical, a leading enterprise in ECH production, had shut down and conducted maintenance on its 130,000 tons/year propylene based ECH plant.

Market outlook

An analyst from SunSirs believes that there was still cost pressure on ECH, and there was insufficient follow-up on downstream new orders. Therefore, caution should be exercised in purchasing raw materials, with a focus on meeting the urgent needs of transactions. It is expected that the ECH market will remain stable in the short term, and more attention should be paid to changes in raw material prices.

If you have any enquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.

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