March 6th News: On March 6th, Zhejiang Petrochemical raised the price of phenol by 400 yuan, setting it at 8,500 yuan/ton for ex-warehouse pickup in Jiangyin. This price is effective from March 6th. Both the first-phase 650,000-ton/year phenol-ketone unit and the second-phase 650,000-ton/year phenol-ketone unit are operating normally, with moderate inventory levels. Sales are primarily focused on phenol contract customers for external use.
Chempricehub Analysis of Phenol, Bull-Bear Score: 1.5
Zhejiang Petrochemical's spot price of phenol increased by 400 yuan/ton to 8,500 yuan/ton. The units are operating normally with moderate inventory, indicating tight market supply and demand or strengthened demand. This increase directly supports spot prices and benefits market sentiment. It is expected that prices will remain strong in the short term.