Sinopec East China raised its phenol opening price by RMB 500/ton this week, bringing the executed price to RMB 9,400/ton.
Domestic operating rates for phenol and acetone remained stable with minimal fluctuation this week.
Inventory at Jiangyin port stood at 16,000 tons. Import shipments replenished stocks during the period; attention should be paid to subsequent shipping dynamics.
| Figure 1: Domestic Phenol Market Price Trend Chart (RMB/ton) |
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| Data Source: Chempricehub Information |
Table 1: Weekly Price Change of Domestic Phenol Market (Unit: RMB/ton)
| Region | Oct 10 | Sep 30 | Change | Change % |
|---|---|---|---|---|
| East China | 9,475 | 8,925 | +550 | +6.16% |
| North China | 9,500 | 8,950 | +550 | +6.15% |
| Shandong | 9,450 | 8,900 | +550 | +6.18% |
| South China | 9,600 | 9,000 | +600 | +6.67% |
| Data Source: Chempricehub Information |
The domestic phenol market rose significantly this period. As of October 10, transaction prices in the East China phenol market were referenced between RMB 9,400–9,550/ton. During the period, feedstock pure benzene prices rose and then fluctuated within a range. The inverted margin situation between phenol and pure benzene remains difficult to change. Affected by reduced contract volumes from some plants and minor adjustments in operating loads, holders showed high enthusiasm for pushing prices up. However, end-users became increasingly cautious about chasing higher prices, focusing primarily on rigid demand, resulting in insufficient trading volume.
According to calculations by Chempricehub Information, as of October 10, the phenol-acetone profit margin for Sinopec East China enterprises was -RMB 1,384/ton, a decrease of RMB 296/ton compared to September 30.
Based on incomplete shipping schedule statistics from Chempricehub Information, as of October 10, total phenol shipments for East China amounted to 26,000 tons, with 12,000 tons already arrived and 14,000 tons in transit. Attention should be paid to subsequent shipping dynamics.
The operating rate of domestic phenol-acetone enterprises this period was around 88% capacity utilization.
The phenol market is expected to be cautiously optimistic next week. Although there is potential for feedstock pure benzene to recover from high levels, the significant inverted price gap between phenol and pure benzene persists. Additionally, downstream phenol-acetone industry operating rates are expected to decline. Suppliers will likely maintain high quoted prices for testing purposes. Attention should be paid to end-user purchasing interest. Cautious operation is recommended. Key focus areas include: 1. Supply side. The overall operating level of domestic phenol-acetone units is expected to decline slightly next week; monitor shutdown dynamics at Zhongsha (Tianjin) and Yangzhou Shiyou phenol-acetone plants. 2. Demand side. Variables in Bisphenol A (BPA) demand are expected to remain limited next week; monitor end-users' acceptance of high-priced phenol. 3. Cost side. Feedstock pure benzene is expected to recover from high levels. Considering the magnitude of the price inversion between phenol and pure benzene, the impact on phenol may be limited.
For more detailed weekly market analysis, please refer to the Chempricehub Information Weekly Phenol Report.
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