Recently, the domestic phenol market has shown a strong upward trend, with a weekly increase of 5.64%. According to the analysis system of the Business Society, the national market quotation on November 13th was at 7857 yuan/ton, and on November 20th the market rose to 8192.50 yuan/ton. In terms of domestic factories, on November 20th, several major factories in North and East China of Sinopec raised their listing prices to 8100 yuan/ton.

The market supply has decreased. On November 13th, the inventory of Jiangyin phenol port decreased to 11000 tons, and there was no replenishment of imported goods during the week. The arrival of domestic trade ships at the port was delayed, resulting in a shortage of imported resources.

There is slight support on the cost side. In terms of crude oil, Saudi Arabia may further postpone additional production cuts until next year, and international oil prices will continue to rise. In the new week, the East China pure benzene market will open low and rise high, with spot negotiation prices ranging from 7800 to 7900 yuan/ton. However, due to the weak opening of downstream styrene, the market’s action on pure benzene is insufficient, and the market is mostly dominated by far month transactions.

The downstream bisphenol A market is fluctuating and rising. In the new week, the bidding price of a certain petrochemical company in East China is rising, with delivery prices for qualified and premium products of 9350 yuan/ton and 9500 yuan/ton. The negotiated price in the East China region has been pushed up to 9600-9700 yuan/ton, and the overall trading volume needs to be improved. We will continue to pay attention to changes in upstream raw materials.

Future forecast: The replenishment situation of phenol shipments. Recently, Changchun Chemical and Guangxi Huayi Phenol Ketone plants have restarted, and the supply pressure is still good. Traders are confident in the short term. However, in the face of high prices, downstream resistance is obvious, and the possibility of terminal factories continuing to chase up prices is unlikely, suppressing the upward space of the market. Business Society estimates that the negotiated price in the East China phenol market is between 8100-8200 yuan/ton