SunSirs: Domestic Trade Delayed Arrival at Port, Leading to a Slight Increase in the Domestic Phenol Market

https://www.chemnet.com   Nov 05,2024 SunSirs

Market Overview:

At the beginning of the new week, the domestic phenol market remained strong and upward. According to data monitored by SunSirs, the domestic phenol market price on November 4th was 7,562.5 RMB/ton, with a slight increase of about 50 RMB/ton at the beginning of the new week.

Sinopec Huadong phenol was listed at a price of 7,600 RMB/ton. Sinopec North China phenol was listed at a price range of 7,550-7,600 RMB/ton. As of the 4th, the phenol offers in various mainstream markets across the country were as follows:

Analysis review

At the beginning of the week, the inventory at Jiangyin Port did not fluctuate significantly, maintaining at a level of 15,000 tons. With the expectation of delayed arrival of domestic trade sources, traders' intentions were high, and most offers on Monday remained firm. From a cost perspective, the spot price of benzene has risen, with reference transactions ranging from 7,200-7,350 RMB/ton. The restart of styrene maintenance facilities in the distant months had increased demand for benzene, which was favorable for the benzene market. From a cost perspective, it provided favorable support for downstream phenol.

The downstream bisphenol A spot market was running lightly, and overall it remained lukewarm in November. Market offers were steadily advancing, with negotiations in the East China region at 8,900-9,100 RMB/ton. There was temporarily no significant news impact on the market.

Market outlook

It is expected that the phenol market will continue to rise in price, and attention should be paid to the fundamental dynamics of supply and demand.

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

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