China Phenol Market Dominated by Rising Trend (8.15-22)

August 22, News

This week, the Chinese phenol market showed an overall upward trend. According to monitored data, in the East China market, the price of phenol in China was 6,700 CNY/ton on August 15th, and by August 22nd, it had risen to 6,843 CNY/ton, an increase of 140 CNY/ton or 2.14%. Looking at the national market, all major markets saw a similar level of increase.

This week, the Chinese phenol market was dominated by a rising trend. During the week, Sinopec's listed price in East China increased by 50 CNY/ton to 6800 CNY/ton. From the perspective of supply, the phenol port inventory in Jiangyin at the beginning of the week dropped to 9,000 tons. The domestic cargo replenishment during the week was not significant, and the supply pressure was not high, leading traders to push up their offers. In terms of demand, the expected demand for downstream bisphenol A decreased, while other downstream sectors remained largely unchanged. End-users will be cautious about chasing higher prices. During the week, from a cost standpoint, the price of raw material benzene was weak.

As of August 22, the phenol quotations in major markets across China are as follows:

Next week, cost support is expected to weaken, while on the supply-and-demand front, both supply and demand are set to decline. Keep an eye on domestic shipping conditions—supply contracts currently face no pressure to deliver—and as a result, the phenol market is anticipated to remain stable next week.