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SunSirs: Phenolone Market Enters Rational Retreat Trend Before the National Day

September 25 2019 10:32:34     SunSirs (John)

Product Name: Phenol

The latest price (East China market /September 23): 8550 RMB/ton

Last weekend, domestic phenol Market talks were light, TRADERS'offer mentality was different, phenol failed to support the National Day holidays and entered a rational retreat trend. Last week, Saudi Arabian oil field was attacked by UAV, crude oil soared, port stock was low, raw materials kept going up, cost pulled the market, and the domestic phenol market swiftly pushed up and rationally adjusted back. The holders of the market cautiously offered for profit. Downstream terminal factory inquiries reduced, buying gas is also insufficient, against the high price, more than just need to dump goods, the market trading atmosphere is not warm, the firm transaction follow-up is limited. The business community expects that the domestic phenol market is dominated by fluctuations in the market, and the East China phenol market negotiation interval is referenced at 8,550 RMB/ton.

 

Product Name: Acetone

The latest price (East China market /September 23): 4950 RMB/ton

Last week, Saudi Arabia's oil field was attacked by UAVs, crude oil soared, port stocks were low, raw materials continued to rise, the cost of the market pulled, making the acetone market soaring. However, this week, except for the relatively tight supply of goods in Shandong North China, the trading atmosphere in the acetone market in other regions declined slightly, and the center of gravity fell in a narrow range. Although the port inventory declined rapidly, the shipment mood of the cargo holders was relatively strong. The relatively bright futures transactions in October have a slight impact on the spot market, and the current terminal purchases are mostly just needed, and the high price resistance is obvious, and the market is gradually declining. SunSirs expect that the acetone market will continue to decline, and the negotiation range of East China market is expected to be 4900-4950 RMB/ton; the negotiation range of Yanshan peripheral market is 5000-5050 RMB/ton; and the mainstream negotiation range of South China market is 5150-5200 RMB/ton.

Relevant listed companies: PetroChina (601857), Sinopec (600028)

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