Price trend

According to the monitoring of the commodity market analysis system of SunSirs, this week, due to the rise of raw material phenol and cost support, the market for phenolic resin had risen. As of April 25th, the mainstream price of domestic phenolic resin (2123) was 10,275 RMB/ton, an increase of 325 RMB/ton or 3.27% compared to last week.

Cost side:

On the 24th, Sinopec East China Phenol's listed price increased by 200 RMB/ton to 8,100 RMB/ton, closely following the upward trend in the market. There was not much pressure on the supply side of phenol, and traders had a good mentality. The participation of demand side enterprises was average, and there was limited demand for tender transactions. It is expected that the phenol market will remain strong in the short term or experience a slight increase. Pay attention to the price adjustments of individual enterprises.

Supply and demand side:

This week, the supply side was mainly stable, and the focus of market negotiations had slightly increased. After the rise, the trading atmosphere in the market slowed down, and downstream wait-and-see buying decreased. This week, the factory's shipments were average, and downstream procurement was cautious with limited follow-up. The supply side was slightly under pressure, and the market atmosphere may have slightly improved.

Market outlook

As of April 25th, the cost support was strong, and downstream watchful follow-up had increased. The market transaction atmosphere was still good, and it is expected that the phenolic resin market may experience a narrow upward trend in the short term. More attention still needs to be paid to the dynamics of the upstream phenol market.

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