In September, the domestic phenol market first rose and then fell. According to data monitored by Shengyi Society, from the perspective of the East China market, the domestic phenol market price was 6800 yuan/ton on September 1st and 6846 yuan/ton on September 29th, with similar fluctuations in major mainstream markets across the country.
In the first ten days, the market experienced a rapid upward trend. In the first half of the year, the main focus was on supplementing domestic trade with cargo in the East China region. Despite significant delays in operations, there was a clear shortage of supply in port inventory. As of the 15th, the inventory at Jiangyin Port was only 5000 tons, which remained low for the previous week. In the first ten days, the phenol market quickly rose and broke through 7000 yuan/ton.

In the second half of the year, after a rapid upward trend, the market experienced a rational correction due to the comprehensive acceptance of high prices by end-users and the negative impact of cost factors. Although the supply side was still tight at that time, high prices were difficult to support. At the same time, the monthly average price was high in the second half of the year, and the market showed a downward trend. Sinopec also adjusted its listing price accordingly.
In terms of equipment, the operating rate of domestic phenol ketone plants has dropped to a low point of 66%.
Business Society expects to pay more attention to downstream stocking before the National Day holiday. Currently, there is not much pressure on Jiangyin Port’s inventory. With the gradual restart of parking facilities, downstream stocking before the holiday will also be affected by the industry’s operating rate, with more stocking on demand. After the holiday, there may be more stocking on demand. Overall, apart from short-term support in the phenol market supply, there will be significant market pressure in the later stages, and the market will mainly operate weakly.