Price trend
The domestic phenol market remained weak last week. According to data monitored by SunSirs, the domestic phenol market price in East China rose from 6,516 RMB/ton on October 17 to 6,550 RMB/ton on October 24, a 0.51% increase. Major markets across China all saw slight adjustments.
Analysis review
On the supply side, the operating rate of phenol-acetone plants was at 75%. Sinopec's East China listed price was 6,600 RMB/ton, and domestic phenol-acetone plant operating levels were generally stable. Port inventories fell to a low of 2,000 tons during the week. October shipments in East China were reported at 29,200 tons, with 10,000 tons known to be in transit in November.
On the demand side, downstream demand was primarily driven by rigid demand. Considering the relatively high monthly average price and stable weekend prices, coupled with the short working hours this month, traders were more inclined to ship, resulting in insufficient market trading volume.
As of October 24th, phenol quotations in major markets nationwide were as follows:
|
Regions |
Quotations on October 24 |
Changes weekly |
|
East China |
6,550 RMB/ton |
10 RMB/ton |
|
Shandong |
6,550 RMB/ton |
25 RMB/ton |
|
Yanshan surrounding area |
6,650 RMB/ton |
0 RMB/ton |
|
South China |
6,600 RMB/ton |
0 RMB/ton |
In terms of equipment: Pay attention to the progress of Jilin Petrochemical's new phenol acetone unit in the later period. Shandong Fuyu Chemical planned to start a 30-day overhaul on September 28, and Ningbo Formosa Petrochemical planned to start a 40-day overhaul in mid-October.
Market outlook
SunSirs predicts that phenol prices will fluctuate narrowly this week, with little fluctuation on the supply side and a slight decrease in demand.
If you have any inquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.
