The tight supply of goods continued to drive the phenol market higher. On the 27th, Sinopec once again raised the listing price of phenol. The listing price of phenol in Sinopec East China was 8,700 RMB/ton, and the listing price of phenol in Sinopec North China was 8,700-8,750 RMB/ton. The tight supply in the market continued to be positive, with traders showing strong sentiment towards price increases and factories taking advantage of the situation to raise prices. However, the terminal market was cautious in chasing price increases, with some urgent needs mainly being replenished, and there was insufficient follow-up on trading.
On the 27th, due to the wide upward trend of crude oil, the market price of pure benzene in East China was relatively stronger, with pure benzene prices ranging from 8,480-8,550 RMB/ton. The atmosphere between buyers and sellers has been tense in recent months, but there has been a significant upward trend in the far months. Shandong region has been listed for price increase due to cost support. The cost was favorable for the market of downstream phenol.
The phenol offers in various markets across the country on August 27th were as follows:
East China region: 8,750 RMB/ton, up 50 RMB/ton
Shandong region: 8,750 RMB/ton, up 50 RMB/ton
Surrounding areas of Yanshan: 8,700 RMB/ton, up 50 RMB/ton
South China region: 8,780 RMB/ton, up 50 RMB/ton
DMF analysts from SunSirs believe that downstream demand for DMF was poor, overall market shipments were slow, and DMF had average cost support. It is expected that DMF prices will operate to be weaker narrowly in the short term.
The current phenol market is mainly affected by supply and demand, and the shortage of goods will continue in the short term. The operating rate of phenol ketone factories will increase in September, and the focus should also be on the replenishment of imported goods. SunSirs expects phenol to continue to operate steadily in the short term, and pays attention to market transactions.
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