Price trend

The domestic phenol market was weak and declining. According to data monitored by SunSirs, the domestic phenol market price dropped from 7,625 RMB/ton on March 18th to 7,527 RMB/ton on March 24th, a decrease of 1.28%.

Analysis review

Sinopec's North China phenol listing price has been lowered by 150 RMB/ton, with an execution of 7,450 RMB/ton. After the price reduction on the 24th, terminal buying enthusiasm was weak and delivery declined.

At the beginning of the week, although the inventory at Jiangyin Port decreased and traders' early offers were expected to boost prices, the demand was sluggish and low-end offers increased. Under the pressure of supply from traders, they offered discounts and shipped goods. With factories lowering their listing prices, the market center fell in the afternoon.

As of March 24th, the operating rate of phenol was close to 80% and overall stable.

Market outlook

The cost and demand sides were relatively weak, with the majority of end-users focusing on essential needs. The participation of intermediate traders has declined, and there was considerable pressure for holders to ship goods, with many offering discounts. In the short term, the domestic phenol market is operating to be weaker.

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