This week (Aug 14–20, 2026), the weekly average profit of China’s phenol/acetone sample enterprises was -818 yuan/ton, down 755 yuan/ton from the previous period.
According to Chempricehub data, as of Aug 20, the phenol/acetone profit of Sinopec East China enterprises was -783 yuan/ton, down 496 yuan/ton from Aug 13. This week, Sinopec raised its pure benzene listed price by 300 yuan/ton to 8,000 yuan/ton, while Sinopec East China’s propylene price was cumulatively raised by 400 yuan/ton to 9,150 yuan/ton, bringing the phenol/acetone feedstock cost to 13,275 yuan/ton. Sinopec East China’s phenol ex-plant price was cumulatively cut by 150 yuan/ton to 8,400 yuan/ton, and its acetone ex-plant price was raised by 200 yuan/ton to 6,600 yuan/ton, further widening the theoretical loss for phenol/acetone producers.
During the period, pure benzene prices in East China rose. In the coming week, output of petroleum-derived benzene and hydrogenated benzene, as well as import volumes, are expected to increase. Downstream demand for pure benzene from styrene, phenol, aniline and adipic acid is also trending up, but caprolactam demand has declined. The marginal weakening in supply-demand fundamentals is putting pressure on spot prices. However, the U.S.-Iran standoff remains unresolved and geopolitical uncertainties persist, providing some support to market sentiment. The price negotiating range is expected to shift lower to 7,800–8,200 yuan/ton.
Domestic propylene spot prices moved up sharply this week. In the short term, high feedstock costs and tight supply continue to support prices, but downstream buyers have grown more resistant to high-priced raw materials, and their appetite for chasing price gains is weak. Meanwhile, maintenance units are expected to gradually resume production, raising supply expectations. Thus, the propylene market is likely to spike and then pull back next week, with mainstream prices in Shandong trading around 8,700–9,000 yuan/ton.
Short-term fluctuations in the two feedstock prices need close attention. For the phenol market, given limited pressure from month-end contract deliveries, a relatively high monthly average price, loss-making phenol/acetone margins, and a phenol-benzene spread of less than 100 yuan/ton, suppliers are unlikely to offer significant concessions. In light of weak end-user buying, phenol prices are expected to stay largely stable in the short term. For the acetone market, domestic waterborne cargo replenishment will be limited in the coming period, so the tight supply situation will ease only slightly, and prices are likely to fluctuate in a range. Taking into account costs, phenol/acetone supply-demand conditions and price trends, the loss situation for phenol/acetone enterprises is unlikely to improve significantly next week.
Sample description: On the day of data release, theoretical costs and profits are monitored based on Sinopec East China phenol/acetone and feedstock listed prices compiled by Chempricehub.
Glossary:
Cost: Production cost is the total of direct expenses, direct labor and indirect manufacturing costs incurred by an enterprise to produce a given type and quantity of product. The phenol/acetone production cost refers to the theoretical production cost derived from the two major feedstocks (pure benzene and propylene).
Profit: Phenol/acetone production profit is calculated based on the prices of phenol/acetone petrochemical producers, i.e., the profit remaining after deducting total costs and ancillary expenses (excluding financial expenses) from Sinopec East China’s listed prices.
Statistical scope: The statistical period runs from the previous Friday to the current Thursday, with profit data compared between the current Thursday and the previous Thursday. Chempricehub’s phenol/acetone product profit data are first-hand statistics, released on working days every Thursday from 15:00 to 17:00.
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