Since 2023, the gross profit of the bisphenol A industry has been significantly squeezed, with market prices mostly fluctuating in a narrow range near the cost line. After entering February, it was even inverted with costs, resulting in a serious loss of gross profit in the industry. Up to now, in 2023, the maximum profit loss of bisphenol A enterprises reached 1039 yuan/ton, and the maximum profit was 347 yuan/ton. As of March 15, the profit loss of bisphenol A enterprises was about 700 yuan/ton.

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As can be seen from the above figure, in 2022, the profit of bisphenol A enterprises decreased all the way, with a significant contraction. In the fourth quarter, the profit of the enterprise decreased to about 500 yuan/ton. By the first quarter of 2023, the industry’s gross profit turned into a loss state. As of March 15, the average profit of bisphenol A enterprises was – 224 yuan/ton, a year-on-year decrease of 104.62% and a year-on-year decrease of 138.69%.
Due to the continued downturn in terminal demand, the trend of bisphenol A has fluctuated weakly since 2023, with the highest market price of 10300 yuan/ton and the lowest price of 9500 yuan/ton, with a limited overall fluctuation range. Although the overall focus of phenol and acetone is increasing, and the cost value of bisphenol A has been pushed to a high level, it has little impact on the market. Supply and demand are a significant factor affecting market trends. In the fourth quarter of 2022, multiple sets of new production capacity of bisphenol A were put into production, and the equipment operation was stable in 2023. In the first quarter of 2023, there were two new sets of production capacity for bisphenol A, resulting in a surge in production capacity, slow market supply, and difficult consumption of cyclic lipids. However, terminal demand is low.

Currently, due to the correction of the phenol center of gravity, the gross profit of the bisphenol A industry has been slightly restored, but the loss is still around 700 yuan/ton, and the cost of the enterprise is still under pressure. It is difficult to anticipate improvement in downstream demand. With a small amount of demand, it is difficult for BPA to have an upward momentum, and the market focus is also weak. However, the center of gravity of phenol and acetone may slightly reverse, but the range is limited. It is expected that BPA will maintain negative profit or volatility near the cost line.