August 26 China Phenol Market Morning Forecast

August 26, News

Yesterday, the Chinese phenol market saw a slight increase, with the overall market rising by about 30 CNY/ton. On the 25th, Sinopec's listed price in East China was 6,800 CNY/ton, and Sinopec's listed price in North China for phenol was 6,850 CNY/ton. The operating rate of phenol and acetone enterprises remained at 75%, and the profit of enterprises was still negative, with the loss situation difficult to change. At the beginning of the week, the port inventory in Jiangyin increased to 12,000 tons, and the pressure from contract shipments was not significant. Traders had little intention of offering discounts, and there was a clear tendency to quote high prices. Downstream demand followed, and the focus slightly increased. It is expected that short-term support will remain, and on the morning of the 26th, Sinopec plans to increase the price by 100 CNY/ton to 6,900 CNY/ton. The Chinese phenol market is expected to remain firm or see a slight increase, and attention should be paid to the replenishment of domestic trade cargo and the dynamics of factories.

As of August 25, the phenol quotations in major markets across China are as follows: