After the post holiday market downturn, it is expected to enter a period of consolidation this week. According to data monitored by Shengyi Society, from the perspective of the East China market, the domestic phenol market price was 6820 yuan/ton on October 8th, 6600 yuan/ton on October 12th, and 6543 yuan/ton on October 14th, a decrease of 4.06% after the holiday,.
At present, the fundamental fluctuations in market supply and demand are not significant. Considering the impact of spot supply and high monthly average prices, traders have little intention of excessively offering discounts. However, price manipulation lacks bullish support. From the perspective of raw materials, crude oil has shown a significant decline after the holiday, which has driven the price of pure benzene down again. Major manufacturers have lowered their listing prices twice in a row, and there is insufficient arbitrage space between regions. Traders are actively offering discounts and shipping.
Downstream terminal enterprises tend to purchase on demand, with average purchasing sentiment and low delivery rates. The downstream bisphenol A market has also shown a downward trend in focus.
As of October 14th, the phenol offers in various mainstream markets across the country are as follows:
Region. Quotation on October 14th /Daily fluctuations
East China region./6520-6540/-20
Shandong region / 6550-6580./ -30
Surrounding areas of Yanshan Mountain / 6600./ 0
South China region / 6620./ -20
Business Society predicts that the fundamentals in the market are flat. Considering the high monthly average prices, traders have little intention of offering excessive discounts. Currently, it has entered a relatively stable trend, and downstream purchases are made according to demand. It is expected that the domestic phenol market will operate narrowly today, and attention will be paid to the cost and supply and demand fundamentals.