Resin Price Index as of October 30, 2023
Ortho-benzene universal resin -140, double ring (DC) hand lay resin -170, artificial stone/quartz stone resin -130, pultrusion resin -130, winding structure layer resin -130, winding interlayer benzene lining resin -90, NPG type molding resin -180, DPG type molding resin -110.
The raw material market prices have been adjusted for weakness, and some UPR factories have lowered their market prices by 100-200 yuan.
Last week, under the dual influence of the Middle East war and market demand, international oil prices fluctuated significantly and are still waiting for further development of the Middle East war situation. At present, Israeli ground forces have entered Gaza to engage in street battles with Hamas. The international community is closely monitoring the civilian casualties caused by this, and it is not ruled out that some anti Israel factions in the surrounding areas will join the fight against Israel. At present, the market has come to a close in October, and the overall transaction situation of UPR is far inferior to September. This includes factors such as excessive inventory reserves by downstream customers in September and the impact on the market due to the National Day holiday. Although the overall market is not optimistic, relatively speaking, the shrinkage of the low-end product market is more significant, while some mid to high end FPR markets have shown significant recovery. Due to the significant overcapacity, this imbalance in the UPR industry will become the norm in the coming years, especially in the next two years. The uneven situation in UPR factories will become more pronounced, forcing some companies to withdraw from the market and making industry integration inevitable.