1、 Price trend

According to the monitoring of the commodity market analysis system of Shengyishe, the phenolic resin market is temporarily stable after the holiday. As of May 9th, the mainstream price of domestic phenolic resin (2123) was 10275 yuan/ton, an increase of 325 yuan or 3.27% compared to before the holiday, and a decrease of 300 yuan or 2.84% compared to April 1st.

2、 Market analysis

Cost side:

Cost side: The concentrated release of bearish news in the early May crude oil market has put pressure on the risk premium of crude oil. International crude oil has experienced a significant decline. As of today, the mainstream price of phenol is 7995 yuan/ton, a decrease of 150 yuan or 1.84% compared to May 1st. The inventory value of Jiangyin phenol port is 20000 tons, with weak cost support, but there is not much pressure on the supply of phenol traders.

Supply and demand side:

After the holiday, stability will be the main focus on the supply side, and downstream enterprises will start construction one after another. With abundant on-site inventory, the support from the demand side will gradually strengthen.

3、 Future Market Forecast

At present, the cost support is weak, and the market trading atmosphere has slightly rebounded. However, there is ample inventory, and it is expected that the phenolic resin market will be mainly weak in the short term. More attention still needs to be paid to the upstream phenol market dynamics.