This week, the domestic phenol market saw a narrow upward trend before weakening. Sinopec East China’s listed price is 6300 yuan/ton. According to data monitored by Shengyi Society, from the perspective of the East China market, the domestic phenol market price was 6295 yuan/ton on November 1st, and 6307 yuan/ton on November 21st, a decrease of 0.2%.
This week, the operating rate of Fuyu Petrochemical’s phenol ketone unit has gradually increased, and the first phase of Zhejiang Petrochemical’s unit has restarted and increased its load. On the supply side, the inventory at Jiangyin Port dropped to 9500 tons at the beginning of the week, and the replenishment of domestic cargo was not significant. In the first half of the week, the market was boosted by supply support, and on Tuesday, the main factories in Shandong region raised their listing prices. From the demand side, participation is limited, downstream offers are low, cautious pursuit of price increases, downstream demand for bisphenol A urgently needs to follow up, and other downstream changes are not significant. The market has weakened again due to sluggish demand.
Business Society predicts that the phenol market will experience narrow fluctuations next week. Currently, the cost of pure benzene is relatively strong, which may lead to a slight increase in phenol prices in the short term. As the supply and shipment pressure approaches the end of the month, there is little intention to offer discounts. However, considering the sluggish buyer market, it is difficult for the market to see a significant increase. It is expected that the phenol market will experience narrow fluctuations and adjustments next week.