April 21, 2024 – On April 21, Lihuayi Weiyuan Chemical Co., Ltd. lowered the listed price of phenol by 200 yuan/ton to 8,800 yuan/ton, effective from April 21. The company’s two phenol-ketone units, with a combined annual capacity of 700,000 tons, are operating normally, shipping according to plan, and inventory levels are not high.

Chempricehub Analysis of Phenol, Bull-Bear Score: -1
The listed price of phenol has been lowered by 200 yuan/ton to 8,800 yuan/ton, indicating potential market supply pressure or weak demand, leading to a direct decline in spot prices. Although the company’s units are operating normally and inventory levels are not high, which partially alleviates concerns about oversupply, the price reduction highlights short-term negative market sentiment. It is expected that spot prices will face downward pressure. Overall, this event has a moderately bearish impact on the phenol spot market, with a score of -1.