SunSirs: Domestic Phenol Market Was Mainly Downward After the Holiday

Price trend

The domestic phenol market has been primarily declining since the holiday. Data monitored by SunSirs shows that in East China, the domestic phenol market price fell by 4.45% from 6,820 RMB/ton on October 8 to 6,516 RMB/ton on October 17. All major markets across China experienced similar declines. 

Analysis review

Sinopec lowered its listed price in East China by 250 RMB/ton to 6,600 RMB/ton, and domestic phenol-acetone plant operating levels remained generally stable. Regarding port supply, East China's shipping cargo totaled 21,200 tons, with 3,000 tons en route in November.

On the demand side, downstream demand was primarily driven by rigid demand. Considering the high monthly average price and stable weekend prices, the short working week this month had led to traders' strong shipping intentions, resulting in insufficient market trading volume.

As of October 17th, phenol quotations in major markets nationwide are as follows:

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 the phenol market will operate in a narrow range in the near future, with little fluctuation in supply, tight spot supply at ports, and a slight decrease in demand.

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