SunSirs: The Domestic Phenol Market First Fell and Then Rose (June 16-23)

Price trend

The domestic phenol market has not fluctuated much this week, with market fluctuations ranging from 50-100 RMB/ton. According to data monitored by SunSirs, the domestic phenol market price was 6,890 RMB/ton on June 16th and 6,862 RMB/ton on June 23rd, a decrease of 0.4%.

Analysis review

Last week, the fluctuation of crude oil led to a price adjustment in the benzene market, which directly affected the pricing of the phenol market in terms of cost. However, from the perspective of trading reports, it is difficult to push up prices, and it is mainly based on market trends. There is room for negotiation in actual orders. In terms of supply, the cargo statistics for the phenol market in East China are 40,000 tons, with 3,000 tons in transit; At present, the operating rate of the phenol ketone factory remains at 80%, mainly due to the shutdown and operation of the Yangzhou Shiyou phenol ketone plant.

Last week, Sinopec's listing price in East China increased by 150 RMB/ton, with an execution of 6,850 RMB/ton.

As of the 23rd, the phenol offers in various mainstream markets across the country were as follows:

In terms of supply, there has been a slight increase in supply this week, with a focus on the progress of the new phenol ketone refining plant in Zhenhai. The short-term impact is not significant. From the demand side, the current demand for bisphenol A has decreased, while other downstream products are lukewarm and the overall fluctuation is not significant.

Market outlook

From the perspective of SunSirs, cost and supply and demand are still the main factors. The high-end sales of benzene in China have increased, and there may be a push up in the opening this week. Pay attention to the demand situation, and the market offer in the East China region is between 6,800-6,850 RMB/ton.

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