During the first half of October 2025, Bisphenol A(BPA) prices in Asia remained low due to excess supply and low demand in the downstream PC and epoxy market. BPA Producers continued to hold high inventories, while overseas demand stayed flat, with limited new orders hindering domestic supply digestion. Further the cost support from the feedstock acetone and phenol also remained limited, reducing the production cost of BPA.
BPA supply in China remained ample following the holidays period, with domestic producers maintaining steady operating. Following the holidays, market activities remained slow, reducing shipment volumes and contributing to stock build-up.
On the feedstock side, phenol prices remained under pressure following the holidays. Meanwhile Sinopec reduced its prices further, reducing the production cost of BPA.聽 聽 Phenol market in September experienced an initial surge, driven by robust domestic demand in East China and significant shipping delays, which left port inventories notably low鈥擩iangyin Port recorded just 5,000 tons by mid-month. However, as the month progressed, a correction occurred due to reduced acceptance of high prices by terminals and rising production costs. Maintenance at major plants like Shenghong Refining & Chemical and Sinopec Mitsui reduced utilization rates to around 66%.聽
The domestic acetone market has experienced a continued decline since October, reaching a significant low and reducing the production cost of BPA. Acetone performance during the "golden September and silver October" period fell short of expectations. Supply pressures have arisen as Sinopec reduced prices, leading traders to offer discounts. Acetone shipments in East China totaled 27,700 tons in October. Demand remained cautious, with downstream factories ordering based on immediate needs.聽
The epoxy resin market operated lightly in China, lacking directional guidance.聽 Demand in the downstream coatings and adhesives was minimal.聽
In the PC segment, supply stayed sufficient with an industry operating rate of about 81% supported by restarts at Wanhua Chemical, Lihua Yiweiyuan, and Zhejiang Petrochemical鈥攚hile average weekly output hovered around 68,000 tons.聽
According to customs data, the export volume of PC in September 2025 decreased by 12.78% month on month (from 52,400 tons to 45,700 tons), indicating a weakening of overseas demand, which may lead to domestic inventory accumulation. The overall supply-demand relationship shows an increasing risk of oversupply in the domestic market of China, which poses significant downward pressure on the spot price of polycarbonate.
BPA Overseas orders were flat, with sluggish export performance and limited new inquiries from key markets, making it challenging to absorb domestic oversupply in China. BPA buyers focused on spot needs, avoiding bulk commitments, and with insufficient short-term confidence.聽
BPA prices in Asia are expected to decline in the coming month due to ample supply, as downstream factories refrain from bulk purchases amid low market confidence. Additionally, weak cost support from feedstocks like phenol and acetone further hinders production of BPA.
