SunSirs: Cost Was Bearish for the Market after the Holiday, Leading to a Decline in the Domestic Phenol Market

https://www.chemnet.com   Oct 09,2023 SunSirs

　　This week, the domestic phenol market declined overall. According to the analysis system of SunSirs, on October 7th, the domestic market was quoted at 9,345 RMB/ton, with a single day decline of 1.34% in the national market. Among them, the negotiated price in the East China market decreased by 200 RMB/ton to 9,150 RMB/ton.

　　Analysis review

　　Cost side was bearish for phenol market. The price of raw material pure benzene had declined significantly due to the sharp drop of crude oil in holiday. The transaction prices of pure benzene had dropped to 7,650-7,800 RMB/ton. The sharp drop of crude oil in holiday had a significant impact on the petrochemical industry chain, and downstream product market prices declined one after another. However, from the perspective of post holiday market activity, the participation of downstream products had increased, suppressing the significant decline of pure benzene.

　　The focus of the downstream bisphenol A market had weakened, and there was a strong wait-and-see atmosphere in the market after the holiday. Due to the negative impact of the industry chain, downstream products had also shown a significant downward trend, with light market trading and few actual orders. The mainstream negotiated prices in East China ranged from 11,300 to 11,400 RMB/ton, with a significant decline in focus after the holiday.

　　Market outlook

　　From the perspective of SunSirs, the current market weakness directly affects the pace of downstream procurement follow-up, paying attention to enterprise trends and terminal procurement situations. The expected market price of phenol is referenced at 9,000 RMB/ton.

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