Price trend

Last week, the domestic phenol market saw a slight upward trend followed by a weakening. Sinopec's listed price in East China was 6,300 RMB/ton. According to data monitored by SunSirs, in the East China market, the domestic phenol price was 6,295 RMB/ton on November 1st and 6,307 RMB/ton on November 21st, a decrease of 0.2%.

Market Analysis

Last week, the operating rate of Fuyu Petrochemical's phenol-acetone unit gradually increased, and Zhejiang Petrochemical's Phase I unit restarted and increased its operating rate. On the supply side, at the beginning of the week, inventory at Jiangyin Port dropped to 0.95 million tons, and domestic trade shipments were not significant. The market was supported by supply in the first half of the week, pushing prices up. On November 18, major factories in Shandong raised their list prices. On the demand side, participation was limited, downstream bids were low, and buyers were cautious about chasing higher prices. Downstream bisphenol A demand was only meeting immediate needs, while other downstream demand remained largely unchanged. The market weakened again due to sluggish demand.

As of November 21, the phenol quotations in major markets across the country were as follows:

Market Forecast:

SunSirs predicts that the phenol market will fluctuate narrowly next week. As of November 21, the cost of benzene was relatively strong, which may slightly push up phenol prices in the short term. With the end of the month approaching, supply pressure was not high, and there was little willingness to offer discounts. However, considering the persistently weak buyer's market, a significant price increase is unlikely. The phenol market is expected to fluctuate narrowly next week.

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