Domestic phenol market experiences a significant upward trend

1. Today's Summary

① On October 26, Sinopec East China phenol listed price increased by RMB 500/ton to RMB 10,000/ton.

② On October 26, phenol port inventory in Jiangyin stood at 12,500 tons, including 12,000 tons at Huaxi and 500 tons at Hengyang.

2. Spot Market Overview

Table 1: Domestic Phenol Price Summary (Unit: RMB/ton)

Based on the East China region, today's phenol price closed at RMB 9,875/ton, up RMB 475/ton from the previous trading day. The domestic phenol market rose significantly today. Reduced supply in Shandong over the weekend prompted substantial price hikes, compounded by rising costs at the start of the week. Most phenol producers raised prices universally. Holders maintained a positive sentiment, actively quoting high prices for sales. Downstream end-users were cautious about chasing higher prices, with limited intent to place orders based on rigid demand, resulting in a quiet negotiation atmosphere.

3. Production Dynamics

Today, the overall operating rate of the domestic phenol industry remained around 72%. The profit margin for phenone enterprises was negative RMB 960/ton.

4. Price Forecast

The domestic phenol market moved sharply upward today. Tightened supply sources in Shandong boosted producers' willingness to maintain high quotes. End-user procurement remained cautious, with limited interest in placing orders based on rigid demand, and follow-up negotiations were average. It is expected that the domestic phenol market will hold firm or see slight gains tomorrow. Attention should be paid to fluctuations in cost prices and downstream buying enthusiasm; cautious operation is recommended.

5. Related Products Status

Pure Benzene Market: Today, spot prices for pure benzene in East China declined, with negotiated references ranging from RMB 10,340-10,650/ton, largely consistent with morning forecasts. Geopolitical tensions supported crude oil at high levels, providing strong cost support. Low port inventories continued to draw down, pushing futures prices higher. However, the convergence of spot basis reflects realized supply recovery and caution regarding the sustainability of high prices. The market maintained a strong consolidation trend during the day.

Bisphenol A Market: Based on the East China region, today's Bisphenol A price closed at RMB 11,100/ton, within a range of RMB 11,000-11,200/ton, an increase of RMB 400/ton from the previous trading day, aligning with morning expectations. The domestic Bisphenol A market surged significantly today. The sharp rise in raw material phenone prices over the weekend created a strong bullish sentiment at the start of the week. Holders maintained firm pricing, exhibiting reluctance to sell low, leading to higher offers. However, downstream follow-through based on rigid demand was limited, and low-priced goods were scarce, driving the center of gravity for negotiations upward.

6. Data Calendar

Table 2: Domestic Phenol Data Overview (Unit: 10,000 tons)