On September 14, the phenol market in East China was pushed up to 10400-10450 yuan/ton through negotiation, with a daily increase of 350-400 yuan/ton. Other mainstream phenol trading and investment regions also followed suit, with an increase of 250-300 yuan/ton. According to the monitoring data of the business community, the national phenol market offered 10112 yuan/ton on September 13, and 10512.5 yuan/ton on September 14, up nearly 4% a day. The trend chart of the national phenol market and the offer of the mainstream regions and major factories are as follows:
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The increase in the factory’s billing price helped the phenol market rise
Lihua Yiweiyuan took the lead in raising 200 yuan to 10500 yuan/ton in the morning opening. Subsequently, Sinopec’s phenol price in East China was raised by 200 yuan/ton to 10400 yuan/ton, and Sinopec’s phenol price in North China was raised by 200 yuan/ton to 10400-10500 yuan/ton. Subsequently, factories in Northeast and South China also adjusted one after another, and factories raised their invoicing prices to help the market. The suppliers’ offers closely followed the previous banks, and due to the continuous tension in the current supply side, most traders offered higher prices on the invoicing prices, accompanied by higher prices, The participation of intermediate traders was improved, and the atmosphere of the on-site discussion was very good. It is reported that the supply of goods in Shandong is mainly for regular customers, and the supply is very tight.
Under the influence of typhoon weather, the transportation in mainstream areas is limited and phenol is pushed up
Since September, the supply of phenol has been tight, and the operating rate of domestic phenol plants is less than 80%. Compared with the long-term operating rate of 95%, the current operating rate of the industry is at a relatively low level. Therefore, since September, the supply of phenol has remained tight, and the market has continued to rise. Today, the typhoon weather in East China has affected the cargo ships and the arrival time. It is difficult to supplement the source of imported goods. The cargo holders are reluctant to sell obviously. The offer has pushed up, and the focus of negotiation has also risen along the trend. However, the daily surge is bound to be limited in the downstream, and the actual orders in the market just need to be inquired are generally followed up.
The dual raw material market is strong, and the cost support provides good peripheral conditions for phenol to rise
In terms of cost, the propylene market price continued to rise. The transaction price in Shandong was 7400 yuan/ton, and the reference price in East China was 7250-7350 yuan/ton. Although the international crude oil and polypropylene futures prices fell, the pressure on the controllable holders of propylene supply side was not great, and the offer was intended to continue to push up. The supply of goods in East China was limited, and the prices of some areas affected by the typhoon were up, so the market was active. Downstream factories mostly purchase on demand, and there are few deals at high prices. The actual orders on the market are acceptable.
The pure benzene market in Shandong Province rose by a narrow margin, and the negotiation price was 7860-7950 yuan/ton. The downstream was following up normally, and the negotiation atmosphere was good.
From the downstream perspective, affected by the continued strong growth of phenol ketone dual raw materials, the downstream cost pressure led to a narrow upward trend. The market offer of bisphenol A was 13500 yuan/ton, which also showed a phased upward trend in September.
From the perspective of the business community, the short-term phenol market supply is still tight, and at this time some of the holders are more cautious in shipping, but whether the market can continue to rise is ultimately controlled by the demand side. Today’s rise has not been digested by the downstream, but the market inquiries are active, and the participation of intermediate traders is increasing. It is expected that the phenol market will continue to operate at a high level tomorrow, or continue to explore the upward trend. It is estimated that the reference price of the phenol market in East China is about 10500 yuan/ton.
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