Price trend

The domestic phenol market generally declined last week. According to data monitored by SunSirs, the domestic phenol market price was 6,862 RMB/ton on June 23, and 6,760 RMB/ton on June 27, a decrease of 1.5%.

Analysis review

Raw materials declined and cost support weakened. The sharp drop in crude oil on Tuesday led to a wide decline in benzene, and the accumulation of benzene at ports at the beginning of the week and the downward trend in styrene prices in major downstream markets were bearish on the market, resulting in a weakened market.

Demand was slowing down, downstream purchasing intentions were not high, traders were offering discounts due to poor shipments, and the market was turning downward. As the end of the month approached, there was not much pressure on the supply contract, and the average price during the month was relatively high. We were cautious in offering discounts, and the market was in a stalemate.

On the 27th, Sinopec East China listed a price reduction of 100 RMB/ton, with an execution of 6,750 RMB/ton.

As of the 27th, the phenol offers in various mainstream markets across the country were as follows:

Market outlook

On the 27th, the shipment volume of phenol in East China was 46,000 tons, and the operating rate of phenol ketone factories was close to 80% during the week, which remains stable in the later period. From the perspective of SunSirs, cost and supply and demand were still the main factors. Domestic benzene is expected to operate to be weaker, and the overall demand change is not significant. In the short term, the domestic supply is basically stable, and phenol is expected to continue to operate to be weaker. It is expected that the market offer in the East China region will be around 6,650 RMB/ton.

If you have any inquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.