Bisphenol S prices remained under pressure during the first week of October 2024 across the Asia-Pacific (APAC) region, continuing the downward trend seen throughout September due to weak demand from key downstream sectors. The market faced a significant imbalance, with ample supply struggling to meet the weak consumption from industries such as epoxy resin, polycarbonate (PC), and other end-use sectors. Market sentiment for Bisphenol S remained cautious, with limited procurement activities and subdued buying interest.

In September 2024, Bisphenol S prices across Asia continued to decline, largely driven by sluggish demand and high inventory levels. The Chinese market, a major player in the region, experienced falling prices, exacerbated by slow recovery in downstream industries, particularly due to a significant slowdown in construction activities. From January to September, the total sales of the top 100 real estate companies amounted to approximately 2970 billion yuan, a year-on-year drop of around 39%, which severely impacted demand in downstream industries. Furthermore, Bisphenol S feedstock prices saw mixed trends; phenol prices declined amid the construction slowdown, while sulfuric acid prices registered a slight increase. The broader Asian market also saw a reduction in crude oil prices throughout September, driven by concerns over global demand and increased oil supply from Libya. This decline in oil prices, along with lower production costs for petroleum-based products, including Bisphenol S, contributed to the overall market pressure.

Additionally, trade restrictions imposed by other Asian countries, like India and Malaysia, on Chinese plastic products further curbed demand in the region’s downstream sectors. China's export growth was a mere 2.4% year-on-year, significantly below the expected 6.18%, while external factors such as extreme weather and global shipping congestion added further strain to market conditions. The Golden Week holiday closures in early October 2024 further reduced production activities, keeping inventory levels elevated and stifling any upward price movement for Bisphenol S.

In India, the Bisphenol S market followed a similar pattern, with prices declining due to oversupply and weak demand. The construction sector, a key consumer of Bisphenol S, faced substantial disruptions caused by heavy rainfall and flooding in key regions, stalling several housing projects. This led to a marked reduction in demand from the epoxy resin and polycarbonate sectors. Additionally, India's manufacturing sector faced a downturn with reduced new orders and procurement activities, while excess inventories of raw materials and finished goods further dampened market sentiment.

However, prices may incline in the coming months as the festive season comes to an end, particularly in APAC regions like China and India. With construction projects expected to resume and manufacturing activities likely to rebound post-holiday, demand for Bisphenol S is set to recover, providing potential price support.