The domestic phenol market has rebounded since June 9, and has continued to rise. According to the market analysis system of the business community, the negotiated price of phenol in East China is 6650 yuan/ton, and the average price in the national market is 6787 yuan/ton, with a cumulative increase of 7.8%.
Pre holiday replenishment is intensive and downstream large depositors are bidding. Before the Dragon Boat Festival, the port inventory was relatively stable near 22000 tons, but there were large economic operations in the downstream, which accelerated the spot circulation of the phenol market. In addition, the terminal replenishment was concentrated before the Dragon Boat Festival, so there was little pressure for traders to ship, and the market trading atmosphere was benign.
The operating rate of the phenol factory is less than 70%, among which Shanghai Gaoqiao, Jiangsu Ruiheng, and Shanghai Xisa are all in a state of shutdown, and the operating rate of Shenghong Refining and Chemical was also slightly adjusted in mid June. Overall, the industry’s operating rate is at a relatively low annual level.
The factory continues to suffer losses and hopes to raise the listing price. Judging from the profits of the phenol ketone factory, the phenol ketone enterprise has been in a continuous state of loss. Since mid May, the theoretical value of the enterprise has entered a loss. As the market continues to bottom out, the loss has increased. As of the 9th, the market has stopped falling and rebounded, and the enterprise has also adjusted its listing price accordingly. As of now, the enterprise is still on the brink of loss, and it is expected that the post holiday loss will turn into profit.
Business Society believes that after the holiday, it is the end of the month, and there is not much pressure on contract volume shipments. However, it is cautious to follow up with high downstream prices after restocking for a period of time before the holiday. In addition, Jiangsu Ruiheng Phenol Ketone is expected to restart on the 25th, and the industry’s operating rate is expected to further increase. However, the import resources are limited, and the overall impact is not significant. It is expected that the phenol market will continue to rise slightly after the holiday, with discussions in the East China market ranging from 6650 to 6700 yuan/ton.
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