This week, the domestic phenol market has weakened and declined. According to data monitored by Shengyi Society, from the perspective of the East China market, the domestic phenol market price was 6986 yuan/ton on September 21, and 6873 yuan/ton on September 26, a decrease of. 62%. Many pre-sale holiday futures before the holiday fell to 6800 yuan/ton. From the perspective of the national market, all major mainstream markets have experienced an equal degree of decline.
This week, the domestic phenol market was dominated by a decline, with Sinopec East China listed at 7050 yuan/ton. We are concerned about the possibility of price adjustments in the future. From a supply side perspective, the inventory of phenol at Jiangyin Port dropped to 7000 tons at the beginning of the week, and there was not much replenishment of domestic trade ships during the week. From a supply side perspective, there was not much pressure, and the market downturn space was controlled. From a demand perspective, downstream demand for bisphenol A is expected to decrease, and pre-sale goods are low at the end of the month or during holidays, resulting in insufficient pre holiday transactions.
According to statistics, the cargo volume of phenol in the East China region is 27200 tons, with 24200 tons already arrived and 3000 tons in transit. We will pay attention to the subsequent arrival of the cargo at the port.
Business Society expects that the increase in domestic supply will be smaller than demand. As the holiday approaches and pre holiday stocking is completed, the expected terminal purchasing volume will decrease. The replenishment of domestic shipping cargo is not significant, and there is an early pre-sale operation, resulting in limited supply of spot goods. After the holiday, there is expected to be a slight increase in the supply side. We will pay attention to the progress of Jilin Petrochemical’s new phenol ketone plant, the replenishment of domestic trade cargo, and the spot supply situation. On the post holiday demand side, there is an expected increase in demand for bisphenol A, while other downstream sectors have finished pre holiday stocking and reduced procurement. The price trend of dual raw materials after the holiday is not easy, and the impact on the cost side is limited.