Epoxy Resin Market Oscillates with Bullish Bias

Benchmark Price Rebounds to RMB 14,475/tonne, Short-Term Upside Limited but Long-Term Recovery Potential Exists

9/9/20262 min read

photo of white staircase
photo of white staircase

As a Hong Kong-based resin and valve import/export trader, Loonwan observes that on September 9, China's epoxy resin market presents an oscillating, strongly consolidating with bullish bias pattern. The SunSirs benchmark price rebounded to RMB 14,475/tonne, up approximately 2.3% from RMB 14,150/tonne on September 7. However, short-term upside is constrained by mid-high price levels, while the long-term position at a 1-year low offers price recovery potential. Against the backdrop of the early-September global chemical price hike wave, epoxy resin has shown relatively measured gains, with clear supply-demand game characteristics.

Performance across dimensions is as follows:

Price and Moving Average Difference Signals

  • Benchmark Price: SunSirs epoxy resin benchmark price stood at RMB 14,475/tonne on September 9 (data as of September 8).

  • Enterprise Quotation: Zhejiang Wuzhong Chemical's 50,000 tonnes/year epoxy resin facility is operating normally, with E-51 quoted at RMB 15,000/tonne ex-works (net water), actual orders negotiable.

  • 5-Day Average Difference (D5): 195.00, down from 260.00 the previous day, indicating weakening short-term momentum.

  • 10-Day Average Difference (D10): 35.00, turned positive from -7.50, showing improving medium-term trend.

  • 20-Day Average Difference (D20): -2.50, significantly narrowed from -33.75, approaching positive territory.

  • Composite Signal: The three average difference changes are (-, +, +), corresponding to a strong consolidation (bullish bias) signal.

Cycle Position and Space Assessment

  • 60-Day Cycle: At the 4th tier (mid-high), short-term upside is somewhat limited.

  • 3-Month Cycle: At the 3rd tier (mid), upside and downside space is relatively balanced.

  • 1-Year Cycle: At the 1st tier (low), long-term downside is limited, with potential for price recovery.

  • Trend Conclusion: The current price trend is 判定 as oscillating — the three average difference changes are not fully consistent, failing to meet clear upward/downward criteria, but overall operation leans bullish.

Industry Chain Supply-Demand Landscape

  • Upstream Raw Materials: Cyclohexene oxide, epichlorohydrin, bisphenol A — raw material costs are the core factor supporting epoxy resin prices. In the September chemical price hike wave, rising prices of upstream pure benzene and acetone provide cost support.

  • Downstream Demand: Wind turbine blades, copper clad laminates (CCL), adhesives, coatings — the downstream wind power sector is entering its traditional peak season, CCL remains buoyant driven by AI server demand, but end-demand recovery in coatings and building materials is slow, constraining significant price increases.

  • Supply-Demand Game: Upstream cost support coexists with downstream demand divergence, presenting a "cost-supported, demand-constrained" oscillating pattern.

Market Outlook

In the short term, epoxy resin prices lack momentum for further significant increases due to mid-high constraints, and are expected to maintain range-bound oscillation. In the medium term, attention should be paid to the realization of "Golden September, Silver October" downstream demand and upstream raw material price trends. In the long term, current prices are at a 1-year low, and if downstream demand from wind power, electronics, and other sectors continues to recover, there is room for price recovery.

Loonwan advises global resin procurement clients: in the current oscillating-with-bullish-bias epoxy resin market, adopt a "phased position-building + range-based price locking" strategy — replenish inventory moderately when prices pull back to the lower range, and avoid chasing highs. For downstream customers with high demand certainty such as wind turbine blades and CCL, Loonwan recommends locking in supply agreements of 3 months or more in advance to hedge potential cost increases. Meanwhile, closely monitor price changes in upstream raw materials such as bisphenol A and epichlorohydrin; Loonwan can assist clients with multi-supplier quotation comparison and supply chain optimization.