In February, the domestic phenol market rose more than fell. According to data monitored by Business Society, the domestic phenol market price was 7770 yuan/ton on February 1st and 7948 yuan/ton on February 27th, an increase of 2.28%.
Returning to the market after the Spring Festival, the cost side price is relatively strong. With the support of the cost side, phenol opened high, and traders were actively pushing up the market. However, due to the sluggish demand side, the market turned weak and slightly fell in the past two days.
With the news of the maintenance of the second phase phenol ketone unit at Zhejiang Petrochemical and inquiries from downstream demand, the phenol market has once again been pulled up, and the focus has once again shifted upwards. However, some terminal factories resumed work relatively late or had some inventory before the holiday. Due to slow demand recovery, the phenol market experienced a slight decline again after rising.
As the end of the month approaches, the overall monthly average price is relatively high, and traders have limited room to make concessions. Moreover, most traders have little pressure to ship at the end of the month, and the market has once again risen slightly. In summary, the domestic phenol market experienced ups and downs in February, with an overall bullish trend and less downward trend.
Sinopec Huadong phenol is listed at a price range of 7900-7950 yuan/ton. Sinopec North China phenol is listed at a price of 7900 yuan/ton. As of the 27th, the phenol offers in various mainstream markets across the country are as follows:
Domestic enterprise installation situation in February: Huizhou Zhongxin Phase I phenol ketone installation will be shut down on November 1st, and the restart time is yet to be determined; The Guangxi Huayi phenol ketone plant will shut down on February 4, 2025, and is expected to undergo a maintenance period of 2 months; The phenol ketone unit of Ningbo Taihua will be shut down for maintenance from February 12th to February 22nd; The second phase phenol ketone unit of Zhejiang Petrochemical will be shut down for maintenance from February 12th to February 20th; The Shanghai Xisafen ketone plant was shut down on February 25th and is expected to resume in early March. Details are being followed up.
Business Society expects that the phenol market in March is still worth looking forward to. On the supply side, the replenishment of cargo in February decreased compared to expectations. As of now, Jiangyin Port has a stock of 20000 tons, and 8 sets of equipment have been repaired in February, with an expected loss of 90000 tons. The industry’s operating rate is relatively low; On the demand side, downstream demand increased in March compared to February; Considering that phenol ketone enterprises are still operating at a loss line, it is expected that the phenol market will continue to operate strongly in the later stage, but attention still needs to be paid to the impact of costs on the phenol market.
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