SunSirs: The Billing Price of Phenol from Manufactures Rose, and the Market Price Followed Up
June 02 2022 15:16:32 SunSirs (John)Price trend
The opening of the market on June 1, domestic factories raised the price of phenol by 100-300 RMB/ton, and the listed price was 10,800-10,900 RMB/ton. The market followed the factory adjustment and pushed up 50-100 RMB/ton as a whole.
Analysis review
For a long time, with the support of high costs, the phenol ketone factories turned losses into profits, and the company's billing price increased several times in a row. In addition, there was no pressure on the stockholders to ship at the beginning of the month. The mentality of the stockholders wa improving, and the offers were also rising. However, after a round of upward movement, the sentiment of the downstream to continue chasing the rise was not high, most followed up just in need, there was little intention to replenish goods at high prices.
Market outlook
SunSirs predicts that the phenol market will run at a high level in the short term, and the reference price in the East China market will be 10,800-10,900 RMB/ton.
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