SunSirs: The Domestic Phenol Market Continued to Decline during the Week

https://www.chemnet.com   May 29,2023 SunSirs

　　Price trend

　　The domestic phenol market continued to decline. According to the market analysis system of SunSirs, the negotiated price of phenol in East China had dropped to 7,200 RMB/ton, with the national market average price at 7,220 RMB/ton, a decrease of 2.27% during the week.

　　Analysis review

　　The factory had centrally lowered prices, with Sinopec North China implementing a price of 7,100 RMB/ton and Sinopec East China implementing a price of 7,100 RMB/ton.

　　The supply side was loose, and the fluctuation in port inventory at the beginning of the week was not significant, with a sustained level of 28,000 tons. Traders were actively shipping at a profit margin.

　　The demand side had not changed much, and the small orders just in needed at the terminal participated, and due to the factory's downward adjustment, downstream procurement enthusiasm had decreased.

　　As of the 26th, the operating rate of the phenol ketone plant was relatively low, but the demand side was sluggish, the market had fewer actual orders, and there was no support from the raw material side.

　　Market outlook

　　SunSirs expects the phenol market to remain sluggish in the short term, with a focus on terminal demand.

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