China VER Prices Rise 0.5% on Firmer Input Costs and Steady Composite Demand

China’s vinyl ester resin (VER) prices increased 0.5% during the week ending 4 September 2026, with firmer upstream costs and resilient demand from selected composite applications offsetting weakness in construction-linked consumption. The market entered September with a relatively balanced tone after the summer lull, as wind-energy and composite manufacturers continued placing regular orders, while protective-coating and chemical-storage fabricators maintained baseline consumption. The increase was therefore modest rather than a sharp rally, reflecting the absence of significant supply shortages.

On the supply side, VER availability remained adequate, but producers faced gradually firmer production economics. Higher epoxy-oligomer costs increased replacement expenses and encouraged manufacturers to establish stronger selling-price floors, limiting their willingness to discount aggressively. Taiwanese suppliers also maintained relatively firm FOB indications as higher LNG and coal-related utility expenses raised operating costs, reinforcing the cost support available to Chinese sellers. At the same time, logistics represented an additional short-term uncertainty because ongoing typhoon activity could delay regional cargo movements and raise transportation expenses. These factors did not create an outright shortage, but they reduced the likelihood of significant downward price pressure. Consequently, VER producers were able to pass through part of the upstream cost increase, while adequate inventories and stable plant operations prevented the market from experiencing a sharper price escalation.

Demand, however, remained uneven across end-use sectors and prevented a stronger increase in VER prices. Wind-energy and composite manufacturers continued to provide relatively reliable resin call-offs, while protective coatings, chemical-storage tanks and corrosion-resistant equipment supported steady industrial consumption. The automotive sector also offered encouragement, as China’s August passenger NEV wholesale volume reached an estimated 1.51 million units, reflecting continued expansion in lightweight and advanced-material applications. Nevertheless, this strength was partly offset by weak construction and infrastructure activity. China’s cement production declined 11.6% year on year to 126.71 million tonnes in July, indicating subdued construction activity and limiting orders for composite rebar, corrosion-resistant structures and related applications. This divergence kept VER purchasing largely requirement-based rather than speculative and explains why the weekly price gain remained contained at 0.5%.

Looking ahead, VER prices are expected to remain firm during September as industrial activity improves after the summer slowdown and buyers begin rebuilding inventories for fourth-quarter production schedules. The market could receive additional support from wind-energy projects, composite manufacturing and the recovering NEV sector, while higher input and utility costs should discourage aggressive supplier discounting. However, the recovery is expected to remain measured because weak construction activity and elevated inventories could restrict purchasing momentum. Weather-related logistics disruptions may also generate intermittent regional tightness if typhoon activity affects transportation or port operations. By October and November, stronger Q4 procurement could provide further support to VER prices, although adequate supply should cap the upside. Toward December, the market is anticipated to weaken as manufacturers enter year-end destocking, reduce procurement and adjust production schedules, reversing part of the earlier gains.