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SunSirs: Factory Helped the Phenol Market Rise Sharply
November 19 2020 14:43:05SunSirs(John)

The domestic phenol market has risen sharply. The phenol market has soared by 27% for more than a week. The mainstream offer of Sinopec plants was 6,900 RMB/ton, and Yangzhou Shiyou, Lihuayi Weiyuan Chemical and Bluestar Harbin executed 7,000 RMB/ton. After a substantial factory adjustment on the 18th, the market also followed suit with local factory offers. At present, the spot supply pressure in the market is not great. On the one hand, port inventory is low and domestic factory sales pressure is not great. On the other hand, after the downstream market such as bisphenol A soared sharply in the early stage, it formed favorable support for the upstream products of the industrial chain.

From the upstream perspective, the price of raw material pure benzene continued to rise. It is understood that the domestic price of pure benzene was 4,200-4,550 RMB/ton. The raw material propylene has entered a steady trend. The mainstream transaction was at 6,820-6,860 RMB/ton, and the profitability of downstream products was good.

From the downstream demand side, so far the surge in the bisphenol A market has temporarily come to an end. The mainstream offers from the factory are all at 18,200-19,000 RMB/ton, and the mainstream negotiations in the East China and North China markets are also around 18,500-18,800 RMB/ton . In addition, the current market supply is limited, there is no pressure on inventory, and the holders are actively making profits. Although it is still difficult for the downstream to digest after the price increase, the transaction price of some rigid demand markets is obviously high, and it is difficult to find low market prices.

From SunSirs’ point of view, after a short-term sharp increase, downstream resistance has increased, the transaction volume is insufficient, and the actual order situation needs to be paid attention. Short-term profitable traders will also increase the pace of shipments. It is expected that the market may maintain a high price status. The East China market will negotiate at 6,900-7,000 RMB/ton.

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