This week, the Chinese phenol market operated weakly

October 24, news

This week, the Chinese phenol market operated weakly. According to the monitored data, from the perspective of the East China market, on October 17, the price of phenol in China was 6,516 CNY/ton, and on October 24, the price of phenol in China was 6,550 CNY/ton, with a price increase of 0.51%. There were slight adjustments in all major mainstream markets across the country.

From the supply side, the operating rate of phenol and acetone enterprises is 75%. Sinopec's listed price in East China is 6,600 CNY/ton, and the operating level of phenol and acetone plants in China is basically stable. The port inventory within the week dropped to a low of 2,000 tons, with 29,200 tons of phenol shipments in East China in October, and 10,000 tons known to be en route in November.

From the demand side, it is mainly driven by downstream essential needs. Considering the relatively high monthly average price and stable weekend prices, but with fewer working days this month, traders have a stronger intention to sell, and the current market transaction volume is insufficient.

As of October 24, the phenol quotations in major markets across China are as follows:

Regarding facilities: We are monitoring the progress of Jilin Petrochemical's new phenol-ketone unit in the later stages. Shandong Fuyu Chemical plans to begin a 30-day maintenance shutdown on September 28, while Ningbo Taihua is scheduled for a roughly 40-day overhaul starting in mid-October.

Phenol prices are expected to fluctuate narrowly next week, as supply conditions remain relatively stable while demand sees a slight decline.