Chinese Phenol Market Remained Weak This Week (Jun 8-14, 2018)

Market Review: The Chinese phenol market was weak this week. Up to June 14, 2018, reference negotiation prices for phenol in East China were around RMB 9,400/mt, down RMB 100/mt or 1.05% week on week. The average price was RMB 9,445/mt, down RMB 55/mt or 0.58% from last week. There were limited news in the phenol market. Benzene prices moved marginally as most producers were consuming the inventories, which couldn’t support the phenol market. Chinese phenol producers held stable offers. Some downstream users’ operating rates were influenced and the demand for phenol was weak.   

Forecast: The overall supply in the Chinese phenol market is ample and prices of raw materials are largely stable. The sales are slow and actual sales situation will influence the players’ sentiments. It is predicted that the Chinese phenol market will be weak in the short term.