On the first day after the holiday (October 8th), Sinopec East China Phenol’s listed price was lowered by 200 yuan per ton. On the 10th, Lihua Yiweiyuan Chemical Co., Ltd. implemented a factory settlement price of 8400 yuan/ton for phenol products. The domestic phenol market continues to decline, with an amplified drop and increased market shipment pressure. The negotiated price in the East China region is between 8200-8300 yuan/ton, and there are many downstream inquiries, but actual transactions are slow. According to monitoring data from Business Society, the national market was at 8832 yuan/ton before the holiday, and fell to 8450 yuan/ton on the 9th. After the holiday, the market fell 4.33% to nearly 400 yuan/ton, and the mainstream market in East China was negotiated to drop to around 8250 yuan/ton.
The phenol offers in various markets across the country on October 9th are as follows:
East China region: 8200-8250, down 200
Shandong region: 8400-8600, down 100%
Surrounding areas of Yanshan: 8400-8600, down 100%
South China region: 8450, down 200
From a cost perspective, crude oil and styrene prices fell sharply at the close of the 9th, and pure benzene spot prices fell sharply on the 9th. The negotiation reference was between 7750-7850 yuan/ton, with a daily decline of 200-250 yuan/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 9600 yuan/ton, unchanged from before the holiday. There is currently no significant news impact on the market.
Due to insufficient demand and the pressure of traders’ shipments, they continue to offer discounts, with a focus on the replenishment of ship cargo in late October. The market has increased upside down space, and today we are paying attention to the price adjustments made by factories. It is expected that the phenol market will continue to operate weakly in the short term
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