Price trend

According to the monitoring of the commodity market analysis system of SunSirs, the phenolic resin market was temporarily stable after the holiday. As of May 9th, the mainstream price of domestic phenolic resin (2123) was 10,275 RMB/ton, an increase of 325 yuan or 3.27% compared to before the holiday, and a decrease of 300 yuan or 2.84% compared to April 1st.

Analysis review

Cost side: The concentrated release of bearish news in the early May crude oil market had put pressure on the risk premium of crude oil. International crude oil experienced a significant decline. As of May 9th, the mainstream price of phenol was 7,995 RMB/ton, a decrease of 150 yuan or 1.84% compared to May 1st. The inventory value of phenol at Jiangyin port was 20,000 tons, with weak cost support, but there as not much pressure on the supply of phenol traders.

Supply and demand side: After the holiday, stability was the main focus on the supply side, and downstream enterprises started construction one after another. With abundant on-site inventory, the support from the demand side will gradually strengthen.

Market outlook

As of May 9th, the cost support was weak, and the market trading atmosphere had slightly rebounded. However, there was ample inventory, and it is expected that the phenolic resin market will be mainly weakly consolidated in the short term. More attention still needs to be paid to the upstream phenol market dynamics.

If you have any questions, please feel free to contact SunSirs with support@SunSirs.com.