一.concern

1. Global oil prices continued to rise as fears of a U.S. recession eased. WTI closed at $73.16 / BBL, up 2.55%; Brent closed 2.35% higher at $77.01 a barrel

2. The load of upstream bisphenol A device is about 72%, and the operation of epichlorohydrin is about 55%

3. At present, the capacity utilization rate of the overall epoxy resin device in China is about 52%

4.the raw material BPA and ECH shock plate is weak, the resin cost surface support is insufficient, the industry cautious wait and see sentiment is strong, a small number of downstream just need to follow up, the market delivery volume is limited

Core logic: The center of gravity of raw materials bisphenol A and epichlorohydrin is weakening, the cost support of epoxy resin is weakening, downstream demand remains unchanged, market news is not good, the industry is in a wait-and-see mood

二.Market outlook

Raw materials bisphenol A and epichlorohydrin shock weak disc, resin cost plane support further weakened, the downstream terminal atmosphere is still depressed, new orders in the market is insufficient, only a small amount of rigid follow-up, resin manufacturers shipping pressure gradually showed, cautious bearish sentiment increased. At present, there is a lack of positive guidance on the market news surface, and short term epoxy resin is expected to run in a narrow range and weak. It is still necessary to pay attention to the trend of upstream raw materials and downstream demand.