In July, the domestic phenol market generally declined, but this week there is an overall upward potential of around 20 yuan/ton in the market. According to data monitored by Business Society, the domestic phenol market price was 6600 yuan/ton on July 17th, and 6617 yuan/ton on July 24th, an increase of 0.3% or 17 yuan/ton.
As of July 24th, the listing price of Sinopec East China was executed at 6650 yuan/ton, and the phenol market as a whole showed a trend of first rising and then falling. The operating rate of phenol ketone enterprises remained stable within the week, with Dalian Hengli phenol ketone plant operating at full capacity and Yangzhou Shiyou plant resuming normal operation. Overall, there is sufficient domestic supply.
In terms of ports, the inventory of Jiangyin Port has dropped to 7000 tons. From the perspective of the port, the inventory is low, and there is not much pressure on East China traders to ship. There is an intention to report high prices, but ultimately terminal demand is difficult to support. Exploratory high reports make it difficult to significantly increase actual orders, and there is insufficient upward momentum. Considering the high average price and limited room for traders to make concessions, the probability of a downward trend is not high, and the market is generally observing and increasing.
As of July 24th, the phenol offers in mainstream markets across the country are as follows:
Region /Quotation on the 24th /Zhou’s ups and downs
East China region / 6570./ 20
Shandong region / 6650./ 20
Surrounding areas of Yanshan Mountain / 6670./ 0
South China region / 6620./ 20
The overall demand for bisphenol A needs to be followed up, with limited participation from intermediate traders. Downstream demand for bisphenol A is expected to decline, while other downstream fluctuations are not significant.
Business Society expects that the cost support for phenol will not be strong, and the supply side will continue to pay attention to the shipment of phenol from Zhenhai Refining and Chemical. On the demand side, the overall volume will slightly decline, and terminal demand will remain strong. At the end of the month, the phenol market will mainly maintain range fluctuations.
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