SunSirs: Early Forecast of Domestic Phenol Market on October 9th

https://www.chemnet.com   Oct 09,2024 SunSirs

On the first day after the holiday (October 8th), Sinopec East China Phenol's listed price was lowered by 200 RMB/ton. The domestic phenol market was stable with small fluctuations, showing an overall high opening in early trading, with poor reports from traders. Some companies had urgent inquiries and were cautious in restocking, resulting in a decline in transactions. The price negotiation for phenol in the East China market was between 8,400-8,550 RMB/ton. It is expected that the domestic phenol market will operate to be weaker, and attention should be paid to changes in supply and demand fundamentals.

From a cost perspective, the raw material benzene was affected by the sharp rise in crude oil prices during the holiday, leading to early price negotiations and high quotes. Refineries were able to ship smoothly during the holiday, with no inventory pressure, resulting in a collective increase in prices. Despite buying up instead of buying down, the market saw a surge in transactions.

Downstream bisphenol A remained lukewarm after the holiday, and market offers continued to stabilize. Negotiations in the East China region reached 9,600 RMB/ton, which was the same as before the holiday. There is currently no significant news impact on the market.

The phenol offers in various markets across the country on October 9th are as follows:

East China region: 8,400-8,550 RMB/ton, down 50-100 RMB/ton

Shandong region: 8,500-8,700 RMB/ton, down 100 RMB/ton

Surrounding areas of Yanshan: 8500-8700, down 100 RMB/ton

South China region: 8,750 RMB/ton, Unchanged

If you have any enquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.

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