In May, the domestic phenol market first rose and then fell, with the market mainly experiencing a downturn. According to data monitored by Business Society, the domestic phenol market price was 6712 yuan/ton on May 1st and 6680 yuan/ton on May 30th, a decrease of 0.4%.
After the May Day holiday, crude oil fell below the 60 mark during the holiday season, and pure benzene fell sharply. However, the next day, pure benzene was driven by crude oil and macro factors, and prices quickly rose. Phenol traders also took the opportunity to actively boost the market, and downstream suppliers actively replenished their stocks. However, there were signs of high reports and low prices, and the overall market still showed a steady upward trend.
In the latter half of the month, there was a lack of support on the cost side, and the participation of phenol traders was limited. Considering the high monthly average price, traders had weak willingness to offer discounts. However, with the low atmosphere at the end of the month and insufficient follow-up on trading, the market also fell into a stalemate.
As of the 30th, the phenol offers in various mainstream markets across the country are as follows:
Region./30 day quotation /May’s ups and downs
East China region / 6600./ 0
Shandong region / 6750./ -50
Surrounding areas of Yanshan Mountain / 6750./ -50
South China region / 6700./ -50
In terms of equipment in May, the first and second phase phenol ketone units of Huizhou Zhongxin were shut down and switched on May 6th, and the 350000 tons/year phenol ketone unit of Zhongsha Tianjin Petrochemical was shut down on April 21st, with an expected maintenance period of 45 days; Shandong Fuyu 250000 tons/year phenol ketone plant will shut down from May 18th to 27th; The 150000 tons/year phenol ketone plant of Blue Star Harbin will shut down for one week at the end of the month.
Business Society predicts that the market will fluctuate within a certain range in June. Looking at the planned reduction in contracts between Yangzhou Shiyou and Jiangsu Ruiheng in June, it is expected that the supply pressure will not be significant; In terms of demand, the downstream phenolic resin industry has been impacted by the high temperature off-season, resulting in a decrease in operating rates; In late June, Zhenhai Refining and Chemical plans to sell phenol externally. It is expected that the market will rise first and then fall in June, with an overall price of 6500-6800 yuan/ton.
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