On January 29, Sinopec East China raised its phenol listed price by 100 yuan to 6,300 yuan/ton ex-works with payment in cash, effective from January 29. This price applies uniformly to its subsidiaries, including Zhenhai Refining and Chemical and Gaohua Materials. PriceSeek analysis of phenol, with a long-short score of 1: Sinopec East China has increased its phenol listed price by 100 yuan/ton to 6,300 yuan/ton ex-works with payment in cash, effective from January 29, and this price is uniformly implemented by its subsidiaries such as Zhenhai Refining and Chemical. This directly reflects changes in fundamentals such as tight supply or increased demand, which is favorable for the spot price of phenol. The price hike, driven by major producers, may lead to an overall increase in spot market prices and boost market confidence. The rating is moderately positive (+1.0), as the price increase is moderate, but as a pricing adjustment by an industry leader, it carries significant market influence.
Comments
0