Domestic phenol market rebounds

1. Today's Summary

① On October 21, Sinopec East China posted stable phenol prices at 9,500 RMB/ton.
② Supply-side pressure remains moderate; holders maintain firm pricing while end-user buying is cautious.

2. Spot Market Overview

Table 1: Domestic Phenol Price Summary (Unit: RMB/ton)

Based on the East China region, today's phenol price closed at 9,300 RMB/ton, an increase of 50 RMB/ton from the previous trading day. The domestic phenol market rose slightly today. Due to significant industry losses, the average operating rate in the phenol and acetone sector declined, reducing spot circulation volumes. Holders' sentiment shifted, leading them to raise offer prices. However, downstream demand was limited to essential needs with low acceptance of high prices, resulting in a modest increase in actual transaction prices.

3. Production Dynamics

Today, the overall operating rate of the domestic phenol industry stood at approximately 73.5%. The profit margin for phenol and acetone enterprises was -1,495 RMB/ton.

4. Price Forecast

The domestic phenol market rebounded today as industry operating rates fell and spot supply tightened, reflecting positive factors. Holders' sentiment improved, leading to higher offers and scarce low-priced inventory. Actual transaction prices are expected to continue rising. Tomorrow, the domestic phenol market is projected to remain bullish. Key factors to watch include raw material costs, end-user purchasing interest, and corporate developments.

5. Related Products

Pure Benzene Market: Today, spot negotiations for pure benzene in East China ranged from 10,230 to 10,480 RMB/ton, largely aligning with morning forecasts. International oil prices remained high, providing cost support and stabilizing market sentiment. Port withdrawals were active, with low inventories continuing to decrease due to limited spot circulation resources. Holders were reluctant to sell at low prices. However, downstream profits remained under pressure, leading to resistance against high-priced raw materials and limited willingness to chase price increases.

Bisphenol A Market: Based on the East China region, today's Bisphenol A price closed at 10,750 RMB/ton within a range of 10,700–10,800 RMB/ton, a decrease of 50 RMB/ton from the previous trading day, consistent with morning expectations. The domestic Bisphenol A market continued its weak downward trend. Although costs rose, the impact on Bisphenol A was negligible. Weak demand hindered holders' sales pace, forcing them to offer discounts for negotiation, which resulted in lower market prices.

6. Data Calendar

Table 2: Domestic Phenol Data Overview (Unit: 10,000 tons)