In September 2024, Bisphenol A (BPA) prices across the APAC region, especially in China and India, experienced consistent declines, driven by weak demand and excess supply. The market faced downward pressure due to low feedstock cost support, particularly from acetone and phenol, along with reduced demand from the downstream epoxy resin and polycarbonate industries.

Early in the month, major producers like Gaoqiao Petrochemical, Mitsui Chemicals, and Yanshan Petrochemical Company announced reductions in upstream acetone prices, which further lowered production costs for BPA. Despite this, demand in key sectors, such as epoxy resin and polycarbonate, remained subdued. China’s epoxy resin production in August marked a 2-3% decrease from the previous month, with capacity utilization dropping by 1-2% points. This drop reflected weak market activity, particularly in the construction sector. The decline in crude oil prices, which remained at a 14-month low due to concerns over softening demand in both the U.S. and China, further added to the downward pressure on BPA prices.

The domestic housing market in China continued to struggle, with home sales from the top 100 real estate companies falling by 22% year-on-year. This ongoing property market slump, coupled with rising job insecurity, significantly reduced demand for construction materials such as epoxy resins and polycarbonate. As a result, buyers remained hesitant to restock, wary of the broader economic uncertainties, leading to a bleak market outlook. BPA prices in China continued to fall, driven by limited procurement activity and low demand.

In India, BPA prices followed a similar trend. Weak cost support from feedstocks in exporting countries, abundant supply, and slow demand weighed heavily on the market. Import prices declined as traders offered lower-end deals to move inventory, but demand remained insufficient to support any market recovery.

As the month progressed, BPA prices in China dropped further, pressured by weak demand from both domestic and international markets. The polycarbonate industry in Europe faced typical seasonal slowdowns, while the weak support from feedstocks acetone and phenol, alongside reduced phenol prices from Sinopec Tianjin Petrochemical, compounded the pressure.

Toward the end of the month, BPA prices continued to decline due to an imbalance between supply and demand. The restart of several production units in China added to the supply glut, while demand remained below expectations. According to ChemAnalyst, BPA prices are expected to decline further in coming weeks as buyers avoided bulk stocking ahead of the national holiday in early October 2024, contributing to additional price reductions and a continued downward trend.