Is China’s UPR Market Heading Toward Further Price Declines?

Unsaturated Polyester Resin (UPR) prices in China declined during July **** as weak construction activity, cautious downstream procurement, and lower feedstock costs reduced market support. According to ChemAnalyst, the UPR FOB Shanghai spot price fell to $*,***.**/MT in July from $*,***.**/MT in June, representing a *.** month-on-month decline. Comfortable supply and softer buying interest encouraged producers and distributors to offer more competitive prices.

Construction-related demand remained the main pressure point for the UPR market. Weak activity in China’s property sector reduced consumption of UPR used in panels, sanitary ware, tanks, and other composite products. Real estate investment also declined **.** during the first seven months of ****, while property sales and new construction start remained under pressure. These conditions limited resin procurement from construction-linked manufacturers.

Broader economic indicators also reflected weaker domestic demand in the UPR market. China’s retail sales increased only *.**...