SunSirs: Cost Driven Weakened, and Phenolic Resin Market Declined

https://www.chemnet.com   May 17,2024 SunSirs

　　Price trend

　　According to the monitoring of the commodity market analysis system of SunSirs, the phenolic resin market was showing a downward trend. As of May 15th, the mainstream price of domestic phenolic resin (2123) was 10,175 RMB/ton, a decrease of 125 yuan or 1.21% compared to the previous working day. The price range of phenolic resin (2123, premium product) was between 13,000 to 15,500 RMB/ton.

　　Analysis review

　　Cost side:

　　As of May 15th, the phenol market had been operating in a volatile manner after stopping its decline. On May 1st, the market was quoted at 8,145 RMB/ton, and on May 15th, it was quoted at 7,860 RMB/ton, a decrease of 285 RMB/ton, a decrease of 3.50%. Downstream factories had finished stocking up, and under the pressure of traders shipping, the market had entered a weak trend.

　　Supply and demand side:

　　The main downstream mold version, grinding, and friction material markets lacked information guidance, and the prices listed by factories remained stable. Downstream demand for follow-up was high, and trading volume was limited.

　　Market outlook

　　Recently, the market price of phenolic resin had declined. From a cost perspective, the post holiday raw material phenol market experienced a volatile operation after stopping its decline, with a bearish performance on the cost side. From the perspective of supply and demand, the spot supply in the market was loose, with downstream buyers mainly focusing on demand. The purchasing intention was average and stable. In the short term, phenolic resins are prone to decline but difficult to rise, so it is necessary to pay attention to the phenol market in the later stage.

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