SunSirs: This Week, the Domestic Phenol Market Saw a Narrow Upward Trend after Consolidation
October 28 2024 14:09:19 SunSirs (John)
Price trend
This week, the domestic phenol market showed stability in the first half of the week and a slight increase in the second half. According to data monitored by SunSirs, the domestic phenol market price was 7,727 RMB/ton on the 18th and 7,827.5 RMB/ton on the 25th, an increase of 1.29% for the week.
Sinopec East China phenol was listed at a price of 7,750 RMB/ton. Sinopec North China phenol was listed at a price range of 7,700-7,750 RMB/ton.
Analysis review
From the supply side, in terms of equipment, there was no on-off status of phenol ketone during the week, and Jiangsu Ruiheng phenol ketone equipment was fully operational, with an overall industry operating rate of over 80%. The port had seen an increase in inventory, with an initial count of around 10,000 tons at the beginning of the week. In the middle of the week, domestic trade ships and cargo mainly arrived in Hengyang. As of October 25th, there was not much pressure on spot supply, and coupled with the high average price within the month, traders had a greater intention to push up their offers. The market center o will push up in the latter half of the week.
The downstream bisphenol A spot market had slightly declined, and overall it remained lukewarm in October. Market offers had been steadily maintained, and negotiations in the East China region had reached 8,800-9,000 RMB/ton, a decrease of 300 RMB/ton compared to last month. There was temporarily no significant news impact on the market.
Market outlook
It is expected that the overall market will operate to be weaker next week. According to statistics, there are still 28,000 tons of goods in transit, and the overall supply may increase next week. Please pay attention to the market demand situation next week.
If you have any enquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.
