1. Price Adjustment Notice & Current Benchmark Quotations

Driven by continuous, sharp cost surges across essential upstream chemical feedstocks, production costs for unsaturated polyester resin (UPR) have escalated dramatically. Following market assessment, effective immediately, all resin sales prices are officially increased by 300 RMB per metric ton. Current factory-gate benchmark prices (RMB/MT) are listed below:

• Ortho-General Purpose Resin: 330

• DCPD Hand Lay-up Resin: 240

• Artificial Stone / Quartz Resin: 300

• Pultrusion Resin: 360

• Filament Winding Structural Resin: 340

• Filament Winding Isophthalic Liner Resin: 340

• NPG Compression / Trenchless Resin: 310

• DPG Compression Resin: 330

2. In-Depth Market Dynamics & Geopolitical Intelligence

(1) Petrochemical Monomers Surge as Futures Hit Daily Limits

Consistent with the projections outlined in our previous two market reports, the immediate post-holiday window witnessed an aggressive rally across petrochemical commodities. Multiple chemical futures contracts locked at their daily limit-up ceilings. Most notably, spot Styrene Monomer (SM)—the vital building block for unsaturated resins—surged by over 800 RMB/MT within a single trading day, triggering immediate and unavoidable cost pass-through downstream.

(2) Spillover in the Persian Gulf Threatens Crude Logistics

The catalyst behind this systemic shock is the acute escalation of regional conflict in the Middle East. Iranian strikes targeted multiple commercial oil tankers in maritime zones adjacent to Qatar and the United Arab Emirates. This critical development proves that maritime interdictions have expanded past the narrow confines of the Strait of Hormuz to engulf the broader Persian Gulf basin. With shipping routes jeopardized and maritime war risk premiums soaring, critical outward energy transit channels are experiencing severe logjams.

(3) Refinery Disruption Compounds Upstream Chemical Scarcity

Simultaneously, sustained strikes against key refining facilities across Saudi Arabia and Russia have caused a continuous decline in global operational refining capacity. Beyond escalating refined fuel and cracking margins, this structural bottleneck has starved chemical crackers of vital naphtha and aromatic feedstocks. Facing both soaring feed costs and physical supply shortages, synthetic resin producers have no alternative but to implement price revisions, with market volatility expected to persist in the near term.