In October, the phenol market rose first and then fell, with an overall increase of 1.72% and a maximum amplitude of 6.08%. According to the monitoring data of business agency, the national average price of phenol was 9462 yuan / ton on October 1, and 9625 yuan / ton on October 31, with an increase of 1.72% in the month. By the end of the month, the offers of major mainstream markets were as follows: 9550-9600 yuan / ton in East China, 9500-9600 yuan / ton in Shandong and Yanshan surrounding areas, and 9750 yuan / ton in South China.

Trend chart of average phenol price in the national market

Trend chart of phenol ex factory price index in East China in 2021

In terms of raw materials, in early October, pure benzene rose continuously and the price rose broadly; Prices began to fluctuate downward in the middle and late days and fell deeply at the end of the month. On October 1, the price was 7880 yuan / ton; At the end of the month, the price was 7500-7700 yuan / ton (average price 7600 yuan / ton). The highest price of this month appeared on October 13, and the price was 8580 yuan / ton. The lowest price appeared on October 29, and the price was 7600 yuan / ton. This month’s decline was 3.55%, an increase of 111.11% over the same period last year, and the difference between the highest and lowest prices in the month was 980 yuan / ton. During the 11th National Day, crude oil rose broadly, driving the relevant commodity markets to actively follow up. The cost side support was strong, the outer disk Asian pure benzene followed the rise, the external news was good, and the domestic pure benzene market followed the rise. Two new caprolactam units have been put into operation in the downstream of Shandong, and the downstream bidding is enthusiastic. The pure benzene enterprises have good shipments and the inventory has decreased. Multiple positive attacks, in the first half of the month, the price of pure benzene rose broadly. With the weakening of downstream demand, the overall decline of pure benzene market and the impact of low price of hydrogenated benzene in the north, pure benzene fluctuated downward. Due to power restriction in East China, the downstream operating rate is not high as a whole, and the demand for pure benzene is weak. It was reported near the end of the month that the crude oil quota of Zhejiang Petrochemical phase II was implemented, and the export volume of pure benzene in East China was expected to further increase. Superimposed on the general weakness of bulk commodities, the price of pure benzene fell rapidly, with a decline of nearly 9% in the last week. In October, Sinopec raised the price twice, lowered the price twice, raised the price twice from 700 yuan / ton to 8300-8400 yuan / ton, and lowered the price twice from 800 yuan / ton to 7500-7600 yuan / ton.

In October, there was a sharp rise and fall in Shandong propylene market. During the national day, due to poor transportation and shortage of local supply in some areas, the local rise led to a nationwide rise, with a maximum daily increase of 250-300 yuan / ton and an average propylene price of 9600 yuan / ton. After the festival, the transportation recovered smoothly, the low-cost goods source flowed in, the price began to recover steadily and further callback in the later stage, especially in the last week of October, the callback range increased, the downstream demand was weak, the buyers had an obvious boycott attitude towards the high-priced goods source, and the price was basically reduced to the pre Festival price in order to stabilize the delivery of goods.

The downstream bisphenol a market fell significantly. In October, bisphenol A was sorted down in a wide range. After the middle of the year, the raw material end fell, and the cost side supported it. Under the influence of policies, the downstream operating rate decreased significantly, the demand for raw bisphenol a decreased sharply, and most domestic factories of bisphenol A had supporting devices. After the supplement of imported goods, the demand decreased and the price decreased significantly. At the end of the month, the market fell to 19200 yuan / ton. Phenolic resin and other downstream products have little change, and the overall demand is stable.

From the perspective of business agency, the domestic phenol market was mainly sorted and operated in November. At the beginning of the month, there were import supply supplement and export shipment from October. At the beginning of the month, the supply side fluctuated little, and traders mainly offered stable prices. In November, we still need to continue to pay attention to the changes in the crude oil pure benzene industrial chain at the raw material end and the tight start-up of new downstream bisphenol A units. The business society expects that the phenol market will be adjusted in November