The domestic phenol market exhibits narrow fluctuations.

1. Daily Summary

① On October 28, Sinopec East China’s posted price for phenol remained stable at 10,000 RMB/ton.

② Rising feedstock costs and tightening spot supply of phenol towards the end of the month have led suppliers to maintain firm pricing strategies. End-user procurement remains driven primarily by rigid demand.

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 9,850 RMB/ton, remaining stable compared to the previous trading day. The domestic phenol market experienced narrow fluctuations today. Prices in northern regions pulled back, while feedstock prices strengthened. With limited spot inventory held by merchants at month-end, willingness to offer discounts was low. Some prices for weekend or next-week delivery were slightly lower. End-user factories participated cautiously in buying, focusing mainly on replenishing rigid demand. Negotiation sentiment remained flat.

3. Production Dynamics

Today, the overall operating rate of the domestic phenol industry was approximately 74%. The profit margin for phenol-acetone enterprises stood at -960 RMB/ton.

4. Price Forecast

The domestic phenol market fluctuated within a narrow range today. Strengthening feedstock costs provided support. Merchants faced no pressure to sell spot inventory at month-end and maintained cautious firm pricing with little intention to discount. End-user factories participated in buying based on rigid demand, with limited follow-up negotiations. It is projected that the domestic phenol market will continue to operate with firm pricing tomorrow. Attention should be paid to feedstock costs and end-user purchasing intent; cautious operation is recommended.

5. Related Products Status

Pure Benzene Market: Spot prices for pure benzene in East China rose today, with transaction references ranging from 10,450 to 10,550 RMB/ton. Geopolitical tensions in the Middle East pushed up oil prices, providing strong cost support. Low port inventories and tight circulating resources supported near-month prices. However, expectations of increased refinery output and higher imports, combined with losses across multiple downstream varieties and declining operating rates, accumulated negative feedback pressures, significantly weighing on far-month prices. Amidst bullish and bearish battles, the market operated with high-level divergence.

Bisphenol A (BPA) Market: Based on the East China region, BPA prices closed at 11,250 RMB/ton today, within a range of 11,200–11,300 RMB/ton, remaining stable compared to the previous trading day, consistent with morning expectations. The domestic BPA market moved sideways today. Demand from downstream end-users was weak, inquiry activity was low, and acceptance of high prices was difficult. Merchants lacked momentum to push prices higher, quotes stabilized, and the market fell into a stalemate. Transactions were primarily small-volume orders.

6. Data Calendar

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