Ortho benzene universal resin -30, double ring (DC) hand lay resin -50, artificial stone/quartz resin -20, pultruded resin -30, winding structure layer tree -30, winding interlayer benzene lining resin -10, NPG molding resin -90, DPG molding resin -50. The raw material market has been weakly adjusted, and the resin market prices have remained stable this week.
Last week, the raw material market saw mixed ups and downs, with maleic anhydride experiencing a significant pullback due to the news that the 200000 ton new plant of Wanhua Chemical has been put into operation. However, overall, the impact on UPR costs is limited. At present, the UPR market has emerged from a clearly differentiated market pattern, with the non enhanced market mainly composed of artificial stone products being in a weak position due to the continuous deep adjustment of the real estate market, and downstream demand is clearly insufficient; The enhanced products with infrastructure and exports as the main markets have shown a clear prosperity. The markets for heavy-duty trucks, new energy vehicles, wind power, lifeboats, non excavation pipeline repairs, export grilles, and agricultural water conservancy have returned to normal operation. Multiple large-scale water diversion projects in Xinjiang are about to be launched, and the demand for UPR in the Xinjiang market will reach a new high in nearly 10 years. Therefore, for the current UPR market, we cannot simply say "good" or "bad", but should analyze the specific situation of each segmented market to determine which part is good and which part is not, so as to make a true and objective judgment of the market. We anticipate that this pattern of weak non enhanced markets and strong enhanced markets will not only gradually strengthen in the coming months, but also become a fundamental feature of the UPR market for the entire 2024, 2025, and even 2026 period.
