SunSirs: Insufficient Demand, the Phenol Market in the Whole Country Went Down
January 05 2023 10:44:17 SunSirs (John)
Price trend
After returning from the New Year's holiday, the market participation was low. Sinopec's latest phenol price in East China was 7,500 RMB/ton, and the price of phenol in major mainstream markets fell by 50-100 RMB/ton, including 7,450 RMB/ton in the East China market, 7,600-7,630 RMB/ton in the markets around Yanshan and Shandong, and 7,550 RMB/ton in the South China market.
Analysis review
On the demand side, the serious shortage of terminal demand was an important reason for the decline of the phenol market. The lack of buying interest in the market at the terminal, and the middle traders were more wait-and-see. Under the pressure of shipment, the holder tried to lower the quotation. Although the trader made profit-cutting to ship, the downstream still mainly purchased with small order on demand.
From the supply side, the operating rate of the enterprise industry was stable, and the supply of products had not changed much. In addition, Sinopec's latest order price in East China was 7,500 RMB/ton, which had been slightly lowered. It was bad for the market, and the traders had made significant concessions. The market negotiation atmosphere was light, and the middlemen had not actively participated. The market trading atmosphere was slightly quiet.
Market outlook
It is expected that the phenol market will be weakly bottomed out this week, and the negotiated price in East China will be 7,450-7,500 RMB/ton.
On January 4, phenol offers in various markets across the country were as follows:
|
Area |
Quotations (RMB/ton) |
Daily Change (RMB/ton) |
|
East China |
7,450 |
-50 |
|
Shandong |
7,600 |
-100 |
|
Yanshan and surrounding areas |
7,650 |
-50 |
|
South China |
7,550 |
-50 |
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