The domestic phenol market continues to decline. According to the market analysis system of Business Society, the negotiated price of phenol in East China has dropped from 7050 to 6450 yuan/ton, and the national market average price has dropped to 6550 yuan/ton, a decrease of 9.28% during the week.

The factory has centrally lowered prices, with Sinopec North China implementing a price of 6600 yuan/low and Sinopec East China implementing a price of 6600 yuan/ton.

The quotation situation of phenol in various markets across the country on June 2nd is as follows:

Region/ Quotation/ Weekly ups and downs

East China region// 6450/- six hundred and fifty

Shandong region/ 6500/- seven hundred

The surrounding area of Yanshan/ 6500./-700

South China region/ 6650/- eight hundred

The demand is poor, and terminal factories entering the market are mostly just in demand. Holders have a high intention to sell goods at a discount, falling below 7000 yuan/ton in the East China region. The East China region has negotiated a broad downward value of 6400 yuan/ton, and there has been some increase in market inquiries near Friday. Intermediary traders have also participated, and the market has rebounded, but the improvement in actual orders is not significant. Although the decline has slowed down, there is still a lack of support for the upward trend.

The operating rate of domestic phenolic ketone enterprises has been adjusted. Jiangsu Hengrui’s 650000 ton/year phenolic ketone plant was shut down for maintenance on May 30th, and Mitsui’s 400000 ton/year and Lihuayi’s first unit resumed restart on the 29th. Zhejiang Petrochemical’s Phase II 650000 ton/year phenolic ketone plant restarted in June.

It is expected that the domestic phenol market will still struggle to improve next week. Domestic resource supply is expected to increase, but the losses of phenolic ketone enterprises have increased. However, downstream terminal enterprises are still mainly in demand, and overall bearish factors still dominate. The upward pressure of the market is relatively high, and the focus in June is still on demand.