SunSirs: After the Holiday, the Domestic Phenol Market Experienced a Wide Decline
October 10 2024 15:02:39 SunSirs (John)
Price trend
On the first day after the holiday (October 8th), Sinopec East China Phenol's listed price was lowered by 200 RMB/ton. On the 10th, Lihua Yiweiyuan Chemical Co., Ltd. implemented a factory settlement price of 8,400 RMB/ton for phenol products. The domestic phenol market continued to decline, with an amplified drop and increased market shipment pressure. The negotiated price in the East China region was between 8,200-8,300 RMB/ton, and there were many downstream inquiries, but actual transactions were slow. According to monitoring data from SunSirs, the national market was at 8,832 RMB/ton before the holiday, and fell to 8,450 RMB/ton on the 9th. After the holiday, the market fell 4.33% to nearly 400 RMB/ton, and the mainstream market in East China was negotiated to drop to around 8,250 RMB/ton.
The phenol offers in various markets across the country on October 9th were as follows:
East China region: 8,200-8,250 RMB/ton, down 200 RMB/ton
Shandong region: 8,400-8,600 RMB/ton, down 100 RMB/ton
Surrounding areas of Yanshan: 8,400-8,600 RMB/ton, down 100 RMB/ton
South China region: 8,450 RMB/ton, down 200 RMB/ton
Analysis review
From a cost perspective, crude oil and styrene prices fell sharply at the close of the 9th, and benzene spot prices fell sharply on the 9th. The negotiation reference was between 7,750-7,850 RMB/ton, with a daily decline of 200-250 RMB/ton. It is expected that there will be large-scale factory maintenance downstream in the short term, and demand may decline. The import volume of products is expected to only increase and not decrease, and the supply side is loose. Traders are under great pressure to hold goods, and the market atmosphere in Shandong is bearish. Downstream procurement mainly consists of small orders with few transactions.
The downstream bisphenol A spot market remained stable with small movements, and remained lukewarm after the holiday. Market offers continued to maintain stability, and negotiations in the East China region reached 9,600 RMB/ton, unchanged from before the holiday. There is currently no significant news impact on the market.
Market outlook
Due to insufficient demand and the pressure of traders' shipments, they continued to offer discounts. The focus is on the replenishment of ship cargo in late October, which increases the upside down space in the market. Today, we are paying attention to the price adjustment situation in factories, and it is expected that the phenol market will continue to be weaker in the short term.
If you have any enquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.
