MMA Market Moved Down on the Weak Demand This Week (Nov 17-23, 2017)

Market Review: The Chinese phenol market continued the uptrend this week. Negotiation prices moved up. Up to December 7, the reference negotiation prices for phenol in East China were in the range of RMB 10,200-10,400/mt, up RMB 750/mt week on week. The average price was RMB 10,000/mt, up 6.72% week on week. The benzene prices fluctuated at high levels, but phenol market saw no pressure. Supply and demand were the major influencing factors. The supply was tight in the market, and holders controlled the sales. Phenol producers raised prices again to RMB 10,000/mt. The BPA market followed the uptrend. The profits were fine. Players were cautious and optimistic.

Forecast: The tight supply is the major reason for the firm phenol market. Some imported goods will arrive. But some phenolic ketone units in China will undergo maintenance in the future. Producers will see no sales pressure. It is predicted that the Chinese phenol market will inch up next week.