After returning from the New Year’s holiday, the market participation was relatively low. Sinopec’s latest price in East China was 7500 yuan/ton, and the major mainstream markets dropped 50-100 yuan/ton, including 7450 yuan/ton in the East China market, 7600-7630 yuan/ton in the markets around Yanshan and Shandong, and 7550 yuan/ton in the South China market.

On the demand side, the serious shortage of terminal demand is an important reason for the decline of the phenol market. The lack of buying interest in the market at the terminal, and the middle traders are more wait-and-see. Under the pressure of shipment by the holders, they try to underreport. Although the traders are willing to make profits, they still need small orders for replenishment in the downstream.

From the supply side, the operating rate of the enterprise industry is stable, and the product supply has not changed much. In addition, Sinopec’s latest order price in East China is 7500 yuan/ton, which has slightly lowered the negative market. The traders have made significant profit concessions. The market negotiation atmosphere is light, and the middlemen have not actively participated. The market trading atmosphere is slightly quiet. It is expected that the weak phenol market will bottom out this week, and the negotiation price in East China will be 7450-7500 yuan/ton.

On January 4, phenol offers in various markets across the country were as follows:

Region/ Quotation/ Daily rise and fall

East China/ 7450./ -50

Shandong/ 7600./ -100

The surrounding area of Yanshan/ 7650./ -50

South China/ 7550./ -50