SunSirs: Supply Was Tight, and the Phenol Market Had Been Continuously Rising Since June

https://www.chemnet.com   Jun 20,2024 SunSirs

Price trend

The domestic supply was limited, and there is not much supply pressure from traders, resulting in an increase in the market price of phenol. According to monitoring data from SunSirs, the market offer on June 1st was 7,857 RMB/ton, and on June 19th it was 8,357.5 RMB/ton, an increase of 6.36%.

Analysis review

Sinopec's East China phenol price had been increased by 150 RMB/ton, with an execution rate of 8,350 RMB/ton. Sinopec's North China phenol price had been increased by 150 RMB/ton, with an execution rate of 8,300-8,350 RMB/ton. The price increase of Sinopec was beneficial for market support, and there was not much supply pressure in the market. Holders had opened high prices and continuously pushed up prices, and terminals actively followed suit. However, most of the orders were small and cautious in chasing high prices, and the trading volume needed to be released.

Downstream bisphenol A fluctuated upwards, with a daily increase of 100-150 RMB/ton. The mainstream negotiated price in East China was between 9,850-10,050 RMB/ton. The low to medium price market was relatively active, while the trading situation at high prices was average. Overall, the market trading was limited. On the cost side, the pure benzene market had slightly declined, with a reference price of 9,580-9,600 RMB/ton. Some Shandong refining enterprises had adhered to the price, and some had lowered their prices for shipments, resulting in a limited increase in transactions.

Market outlook

From the perspective of SunSirs, the phenol market will continue to operate at a high price in the short term, with small expectations of growth. The focus will be on the changes in market supply and demand.

If you have any questions, please feel free to contact SunSirs with support@SunSirs.com.

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