SunSirs: Domestic Phenol Market Fluctuated Little

Price trend

Following the post-holiday market downturn, prices were expected to enter a range-bound consolidation phase this week. According to data monitored by SunSirs, the domestic phenol market price in East China was 6,820 RMB/ton on October 8, 6,600 RMB/ton on October 12, and 6,543 RMB/ton on October 14, representing a 4.06% drop since the holiday.

Factors affecting price:

As of October 14, market supply and demand fundamentals were relatively stable. Considering the impact of spot supply and high monthly average prices, traders were reluctant to offer excessive margins, but their attempts to maintain prices lacked positive support. Regarding raw materials, crude oil prices had fallen significantly after the holiday, driving down benzene prices again. Major manufacturers lowered their listed prices twice in a row, leaving limited room for inter-regional arbitrage and prompting traders to offer more margins and actively ship goods.

Downstream end-users were primarily purchasing on demand, with sentiment remaining subdued and bids remaining low. The downstream bisphenol A market was also experiencing a significant decline.

As of October 14th, phenol quotations in major markets nationwide were as follows:

Market outlook

The market fundamentals were flat. Considering the high average monthly price, traders had little intention to make excessive concessions. It had entered a relatively stable trend, and downstream purchases were made on demand. It is expected that the domestic phenol market will operate in a narrow range today, and attention should be paid to the cost and supply and demand fundamentals.

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