The domestic phenol market is weak and declining. According to data monitored by Shengyi Society, the domestic phenol market price dropped from 7625 yuan/ton on March 18th to 7527 yuan/ton on March 24th, a decrease of 1.28%.
Sinopec’s North China phenol listing price has been lowered by 150 yuan/ton, with an execution of 7450 yuan/ton. After the price reduction on the 24th, terminal buying enthusiasm was weak and delivery declined.
At the beginning of the week, although the inventory at Jiangyin Port decreased and traders’ early offers were expected to boost prices, the demand was sluggish and low-end offers increased. Under the pressure of supply from traders, they offered discounts and shipped goods. With factories lowering their listing prices, the market center of gravity fell in the afternoon.
At present, the operating rate of phenol is close to 80% and overall stable. As of the 24th, the phenol offers in various mainstream markets across the country are as follows:
Region/ Quotation on the 24th/ Zhou’s ups and downs
East China region/ 7350./ -150
Shandong region/ 7450./ -120
Surrounding areas of Yanshan Mountain/ 7450./ -120
South China region/ 7600./ -100
The cost and demand sides are relatively weak, with the majority of end-users focusing on essential needs. The participation of intermediate traders has declined, and there is considerable pressure for holders to ship goods, with many offering discounts. In the short term, the domestic phenol market is operating weakly.
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